Settings and activity
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33 votes
Fiona Macartney
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62 votes
Hi everyone, we understand why people would want to be able to apply a credit note within a locked period however we wanted to provide more context on the purpose of lock dates and reasons for the way they work at present.
Basically put lock dates prevent users making changes to the accounting records prior to the lock date. Their role is to prevent unintended changes which would alter reporting outcomes be they financial reports, VAT/GST/Sales Tax reports etc. Lock dates ensure financial data is accurate and trustworthy.
When a credit note is allocated to an invoice the allocation date is dated the later of the two documents, the first day where both exist. Credit note allocations require creating journals on both a cash and accrual basis, which is why if both the invoice and the credit note are in a locked period, the allocation can’t be done. Those journals…
Fiona Macartney
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31 votesFiona Macartney
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1 voteFiona Macartney
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7 votesFiona Macartney
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22 votesFiona Macartney
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11 votesFiona Macartney
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5 votesFiona Macartney
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117 votes
An error occurred while saving the comment Fiona Macartney
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Also needed when you want the same rule to apply to multiple accounts, but not all accounts (unless you create an option to allow us to select multiple accounts when setting up the rules)
We have a similar problem.
We have just changed a lot of our clients over from MYOB where we could get supplier account numbers, IRD numbers etc in the bank feed details, and could then set bank rules for them based on the account number etc.
With many transactions Xero gives us a lot less information. Often the supplier account number is missing, or IRD tax type & IRD number are missing. This makes using bank rules impossible for many transactions, and takes a lot longer to reconcile manually as we have to go hunting to find out what the transaction was for.