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  1. 64 votes

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    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…

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    Sharron DeCourcy commented  · 

    Totally agree with Jaine Williams

    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

    Sharron DeCourcy supported this idea  · 
  2. 59 votes

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    Sharron DeCourcy supported this idea  · 
  3. 40 votes

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    Sharron DeCourcy supported this idea  ·