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. Once 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.
How ApprovalMax handles documents with a lock date (closing date)
Administrators of QuickBooks Online Organisations have a choice of two options for the handling of documents with a date prior to the lock date:
- 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*
Please note: the date will only get changed automatically to "Lock date + 1 day" if the setting in QuickBooks Online to "Allow changes after viewing a warning" without entering a password has been activated:
This is how it works in Bills:
In the Bill Creation and Approval workflow, click on the gear icon (⚙):
Select your preferred option:
- If the first option is selected, documents dated earlier than the lock date will be locked:
- If the second option is selected, the date of a document will be changed automatically to "Lock Date +1" after its approval:
It works the same way for Expenses:
In the Expense Creation and Approval workflow, click on the gear icon (⚙):
and select your preferred option:
- If the first option is selected, documents dated earlier than the lock date will be locked:
- If the second option is selected, the date of a document will be changed automatically to "Lock Date +1" after its approval:
It works the same way for Journal Entries:
In the Journal Entry workflow, click on the gear icon (⚙):
and select your preferred option:
- If the first option is selected, documents dated earlier than the lock date will be locked:
- If the second option is selected, the date of a document will be changed automatically to "Lock Date +1" after its approval:
Related Articles
How is a lock date handled for Xero Bills?
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 ...How is a lock date handled for Xero Batch Payments?
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 ...How to create QuickBooks Online Journal Entry
Before creating a Journal Entry, you first need to set up and activate a Journal Entry workflow in ApprovalMax: In the section Journal Entry Creation, you can specify all users who will be allowed to create Journal Entry requests. By adding ...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 and not closed, Bill is not approved/cancelled/draft PO date does not exceed the Bill date ...