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I'm glad I'm not the only one having this problem.

I think the issue is that Xero isn't really designed for full accrual accounting as it is marketed more to small businesses that primarily use the cash method despite having the accrual option.

My issue is more with Sales Invoices which are created and synced from a trade platform but due to needing to make possible amendments, they aren't synced until paid which doesn't affect BAS reporting as we are CASH method but if the period has been locked, I have to reopen to bring it over but it also impacts financial reports for prior periods which has implications for tax and financial reporting.

@Karen_Sparkes, this is one of the worst issues with Xero and they show no interest in resolving this. If you have just changed over to Xero now would be a good time to review your choice...

I have only recently started using Xero, and I'm already regretting it. This is totally unintuitive.

Xero leaves you with 3 choices, of which none are good.

1. Leave all your dates open so invoices can be entered with their correct dates (bad idea as your month end reports will lose their integrity the moment a late invoice is entered).

2. Lock the balances and unlock them every time a late invoice comes in (even worse idea with all the cons of 1 and the added hassle of constant locking and unlocking of balances)

3. Lock the balances and change the date on late invoices (bad idea because you lose the audit trail).

All of these options are shoddy accountancy. Xero really needs to get on board with best practice.

So annoying this isn't in the pipeline. Seems like such an easy addition and would open up a market currently struggling with or not using Xero (SMEs).

A simple period drop down when entering an invoice would do it, and then the ability to produce TB columns by either day or period. Such a simple system change its mad they havent taken feedback onboard and made this change.

Yes this is Accounting 101 and unfortunately one of the many limitations with Xero.

It is aimed at the sole trader plumber or electrician who isn't that interested in running a proper set of books, nor whether the results from 2 months ago has changed because an old invoice has been processed, so unless you change the invoice date to the current period it puts it in the previously closed period, and too bad if it happens to be in a previous financial year that may still be open...

Explore other options.

It is absolutely absurd that Xero expects you to open a period, and skew closed and reported on periods. This is a critical issue. Past invoices relating to closed periods should definitely be posted in the current open period. The processing date and document date are two separate considerations in accounting. This is such a basic functionality as well, and is another sticking point for why Xero seems more in the dark ages with accounting functionality.
And entering the wrong invoice date doesn't work for the VAT calculation functionality, awful 'workaround'.

I have also voted as critical within the shared link to the other chat regarding this issue.

Need the ability to transact late invoices in the open period yet retain their invoice date.
changing invoice date to post in current open period is wrong. and reopening the period for every old late invoice is also wrong it creates additional work and immense risk to the integrity of the accounts

Xero have said this is not in the pipeline and locked any further comments on another idea asking for the same thing, link below
This is very disappointing

Invoices/Bills - Separate field for posting date and invoice date
https://productideas.xero.com/forums/967139-purchase-orders-bills-inventory/suggestions/44988538-invoices-bills-separate-field-for-posting-date-a

Essential part of any accounting system. Will simplify the VAT return process.

This is essential for accurate consistent reporting as well as VAT compliance

This is an essential accounting function for any system. If a company was to be audited, failure to have this function would be seen as a critical failure of accounting compliance. I cannot understand why this is not already in place

Please can you all find and vote and this idea: "Invoices/Bills - Separate field for posting date and invoice date"
It is asking for the same thing as this idea but has a lot more votes on it already and Xero have also commented on it so might get more attention to this vital issue!

https://productideas.xero.com/forums/967139-purchase-orders-bills-inventory/suggestions/44988538-invoices-bills-separate-field-for-posting-date-a

Would love to see comment from Xero on this one please - this is critical!

Coming from another accounts package that allowed closing/ locking periods, this should be a basic function.
Now I have to choose between changing documents dates, which makes due dates wrong, and is just wrong! or having my P&L change due to late documents.

Agee that this is a basic accounting feature and should be considered as an enhancement by Xero. The inefficiencies/ extra work created by lack of this functionality should not exist and doesn't align with best practice.

Would like to see a development/ enhancement by Xero to rectify this issue as it is difficult to see how this functionality works with a scaling business.

Completely agree! I'm a new user for a new firm and this is a huge concern of mine at the moment. Entering new bills should allow us to note both a posting date and an invoice date so that old invoices can be posted into current open periods. I don't understand how this isn't a factor already. We accrue for invoices we're expecting but haven't come in yet so they're often going to have older period dates on them! It's basic!

100% agree, this feature is basic accounting 101, system should differentiate between Invoice date and GL Date (aka period date)
Would love to see this enhancement come to Xero, as it would really enhance the platform and allow it scale with businesses

as per the below comment, totally agree, you should not have to put fictious date into the system, or keep periods open just incase! If you close periods and enter invoices into correct current periods but with the correct Invoice date that would be a much smoother system.

I totally agree. Being date driven for everything is fine if everything is perfect. I'm forever having to reopen periods or putting fictitious dates into the system. I'd really prefer an ability to close a period but enter transactions into an open period using the correct date.

The most detrimental part of this is that you can not change a reference or a department on an invoice without having to open the closed off period.
This has caused us so many issues as i constantly need to open the period when a client advises of any changes to an invoice or if the department was incorrect. Surely items that do not affect the numbers should be ok to amend at any point...makes no sense to me