...
- (Tick) Auto generated Retained Earnings: To transfer Profit or Loss for the period to Balance Sheet Account (Replacement of Month End Processing function)
- Update monthly period description
- Update Quarter : Q1, Q2, Q3 and Q4 : Allow to view Profit and Loss Statement by Period; Balance Sheet by Period
- Lock monthly period transaction (Selection of OPEN, LOCK GL, LOCK TXN, LOCK ALL).
- Click the Update button.
...
Different on Type of Lock:
1. OPEN
- When the Financial Year is "OPEN" Status → any user allowed to create transaction for that Financial Period
- It is recommended to lock the financial year after Audit is completed, as this might cause discrepancy on the Financial report or Tax report to submission
2. LOCK GL
- When Financial Year is "Lock GL" Status → any user is not allowed to create Manual Journal Transaction
3. LOCK TXN
- When Financial Year is "Lock TXN" Status → any user is not allowed to create or perform any Sales or Purchase transaction
4. LOCK ALL
- When Financial Year is "Lock ALL" Status → any user is not allowed to create ALL transactions which include manual journal
| Panel | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
...