This time of the year is when most businesses are finalizing the last fiscal year for taxes. Once you have finalized your transactions for the prior year or period, it is very important to lock the dates in Xero. What does it mean to lock dates?
Locking dates stops data from being changed prior to a specific date. For example, once you have finalized your transactions for your taxes for 2015, you will want to lock the dates as of 12/31/2015 in Xero so that you don’t accidentally change any of your data from last year.
You are able to lock dates when you have the advisor role.
How to do it:
- Go to Settings, then General Settings
- Under Organization click Financial Settings
- Under Lock Dates, enter the date you want to lock your organizations account
- Now your dates are locked!
- You have the option to lock dates for all user roles except the advisors, or for all users including advisors
Watch this video to see exactly how to lock dates:
We include locking the dates at year-end as a step for all our regular clients. If you have any questions on this, feel free to contact us at email@example.com