How is a lock date handled in QuickBooks Online?
What is a lock date in QuickBooks Online?
QuickBooks Online offers the option to "Close the Books" by finalising financial statements for a specified period, with password protection to prevent any alterations to that information. By setting a lock/closing date in QuickBooks Online, you can stop people from making changes to transactions which were done during a past period. After you've determined a closing date, users cannot add or edit any transactions in QuickBooks Online if the transaction date is earlier than the closing date.
Learn more about lock dates here.
Administrators of a QuickBooks Online Organisation have the choice of two options for the handling of documents with a date prior to the lock date:
How ApprovalMax handles documents with a lock date (closing date)
This is how it works:
- Either such documents are blocked from approval until their date gets changed manually in QuickBooks Online or ApprovalMax
- Or their date gets automatically changed to "Lock date + 1 day" after approval
In the "Bill creation and approval" workflow, click on the gear icon (⚙):
Select your preferred option:
How is a lock date handled?
What is a lock date in Xero?If you have the Adviser user role, you can set a lock date to stop changes being made to transactions during a past period. After you've set a lock date, users can't add or edit transactions in Xero if the transaction date ...
QuickBooks Online matching: When does a matching get automatically removed?
A matching gets automatically removed if: The Bill is deleted / rejected The Purchase Order is cancelled / deleted PO was deleted in the QuickBooks Online – upon the final approval the Bill will be created without the matching data The Vendor has ...
QuickBooks Online matching: Which Purchase Orders are available for matching?
Purchase Orders (POs) can only be matched to Bills if: PO and Bill have the same Vendor (which determines the Currency of both requests) PO is approved, Bill is not approved/cancelled/draft PO date does not exceed the Bill date (retrospective POs ...
Does ApprovalMax support QuickBooks Online OAuth 2.0?
Yes, ApprovalMax does support QuickBooks Online OAuth 2.0.
Line item reports (QuickBooks Online)
You can generate reports with line item details and also schedule the report generation and delivery to selected email addresses. Line item reports allow you to look deeper into your accounts payable and accounts receivable to understand what exactly ...