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Lock Dates - Allocate Overpayments to Bills before a Lock Date

when doing allocation between an overpayment and a bill, if the invoice is dated within a locked period you are unable to do the allocation, it would be good if you could just do the allocation without having to open the period.

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Sara Pardo shared this idea  ·   ·  Report…  ·  Admin →
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  • Joshua McConaghy commented  ·   ·  Report

    I agree. Payments and credit allocations shouldn’t have a material impact on the accounts, but giving everyone the ability to lock and unlock periods is likely to cause issues.

    We use an automated billing system that submits to Xero once invoices are approved. If a lock date is in place, it simply posts to the next available period, which works perfectly. However, each time we unlock a period we increase the risk of a late purchase invoice being posted into a previously locked period, which can create unnecessary complications at the following month end.

    This actually happened last month. Because the transactions didn’t have reference numbers, I spent around four hours investigating a £17k variance in a period that had already been closed. It turned out that three invoices had slipped into the period while it was temporarily unlocked so that payments could be allocated.

  • Matt Tyler commented  ·   ·  Report

    100% agree. We can't be going back and changing comparatives in prior periods when the accounts have already been completed

  • Michele Furlong commented  ·   ·  Report

    Totally agree! Having to open periods that are locked changes the integrity of the accounts as the published numbers will change. A differetiation needs to be made between the document date, and the posting / allocation date. This needs to apply to allocating credit notes to invoices or bills and processing invoices received after a period is closed.

  • Jenny Draper commented  ·   ·  Report

    OMG!! HOW in goodness name is this function not available !!!!!!!!!!!!!

    Not all transactions happen within a neat month, and it is NON-COMPLIANT to make transaction in a closed period, when the TRANSACTION DID NOT HAPPEN .

    A Credit needs to be able to be applied to a bill at ANY time after a credit / overpayment is raised.

    Soooooo many times the client doe **** get confirmation form the supplier, or visa-versa - for the transaction to apply within the month.

    I will NOT just change an historic account, and make the report INCORRECT just because Xero (again) does not have the correct accounting process to do it!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  • Cristina Pacioga commented  ·   ·  Report

    Hi, I am facing same issue and would like to support Sara's idea. It is inconvenient unlocking the accounts.

    Thanks,
    Cristina