Lock Dates - Allocate Credit Notes to Invoices before a Lock Date
Ability to apply credit to an invoice that is issued within a lock period
Purpose: Apply credits from within a locked period to sales invoices
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Megan Shell commented
This is basic accounting functionality. Please fix it.
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Paula Williams commented
I can't believe this is still not possible as it's such a simple thing to add a field with a date. please sort this out asap
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Jenny Draper commented
How in this day and age do we still not have a SMOOTH WAY TO ALLOCATE A CREDIT TO AN INVOICE WHICH WAS ISSUED IN A LOCKED PERIOD????
Surely it would be possible to allocate a credit, and SELECT THE DATE that a credit is applied to the Invoice with out having to allocate to a clearing account, which is just archaic.
Please can we have this added to the system ( before any more 'cosmetic changes')
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Danielle Atwell commented
Ability to date the credit note allocation would solve this issue. Xero, please allow for this :)
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Jaine Wills commented
I have an overpayment from FY2022 that I now need to allocate to an invoice in FY2023. I can't do this as the period is locked. I can't unlock the period, as it will then cause an imbalance between Xero and the filed accounts. Equally, I can't just leave it there.
This is needed; please add it to your roadmap.
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John Pugh commented
I agree that a solution needs to be found for this. Surely any foreign currency adjustments could be handled in the current period (or provide the user with instructions on ways to resolve the issue).
In most cases I see no reason for the need to unlock any locked periods because everything is happening in the current period. -
Helen Aked commented
We lock our accounts monthly but if we want to allocate a credit note with an earlier month date we have to unlock that period which risks other changes.
Although sales credits will always be raised against a specific invoice our customers don't always use them that way so we wait until the credit is deducted from a payment to match it against the invoice. Since payment is generally a month or 2 after payment date we have to unlock the earlier period.
Can the accounting date for the allocation not be the day it is completed in Xero therefore removing the need to reopen the period? -
David Kim commented
Better options for user setting where Standard users have the role of Adviser without having access to locked dates and periods.
Standard users are not able to apply credit notes to invoices without having to open up the period because only Adviser can do so. This is very frustrating because they need to ask the adviser role to open up the period each time they need to apply credit note to invoices.
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Shaunie Huzzey commented
The comments saying it does not change the numbers are not entirely correct... if it is a foreign currency invoice then it does change the currency gains or losses.
The way around this would be the ability to set an allocation date which could be within an open period
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Colm Phelan commented
Your accountant wouldn't care. Allocating a credit doesn't affect the GL which is what your accountant cares about.
Applying credits to invoices, regardless of what period the invoices or the credits are from should not be subject to lock period restrictions. I've no idea why Xero would have this. -
Rachael Jackson commented
The issue here is that the credit allocation event does not have a separate date to the credit note. If credit note allocation was given a separate data field and it was recorded as a new year event this would have no impact on the records in the locked period. Allocating a credit note is not a new entry of data, it is just tidying the ledgers and so should not be blocked by the lock date. If there was a date field on the allocation event it could be reported on and reviewed by managers in the current period
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Joy Ng commented
Numbers will not change as they are all in AR. just the customer's statement should change showing credit has been used. Xero can have a "credit application date" where the statement will show the credit in the lock period being applied in an unlocked period. this way application of the credit will definitely not change anything in the locked period, rather add a credit application date in the unlocked period
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Helen MacGregor commented
Isn't the point of a lock period to prevent change from happening? Not sure my accountant would be impressed if I changed the numbers in a prior year.