Locking periods
You will be able to: Name the four layers that stop postings in a finished period; Set Books locked up to and close a fiscal year; Explain what the year-end close does.
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Once a period is reported, no one should be able to slip in a document dated inside it. Zeyto has several layers. They work together, and each answers a different need.
| Layer | Where | What it does |
|---|---|---|
| Fiscal Years | Settings ▸ Fiscal Years | A document needs an open year covering its date. Status Closed refuses Submit, Amend and Cancel dated inside that year. |
| Books locked up to | Settings ▸ Posting Controls | A date you choose, inclusive. Documents dated on or before it cannot be submitted or amended. A soft close, separate from fiscal years. |
| Filed VAT period | VAT return | VAT-related documents dated in a filed VAT period cannot be submitted, amended or cancelled, even if the year is open. |
| Year-end close | Year End screen (Accounting module) | Posts closing vouchers and locks the year. |
Fiscal years
Add the next year before it starts (a name, a start date and an end date). Closing a year posts nothing and moves no balances; it only blocks postings dated inside it. Set Status back to Open to reopen. Make sure years do not overlap: a date counts as open as soon as one open year covers it.
Books locked up to
Pick the last day to close, for example the end of the VAT period you filed, and press Save. Clear or move the date back to reopen. Posting Controls also holds Block for future-dated documents and the mandatory LPO and TRN checks. POS sales and Cancel are not checked by these rules.
Year-end close
The close moves the year's net result from income and expense accounts into one retained earnings account (an equity account you choose), so the next year starts with income and expenses at zero. Close earlier years first. Profit and loss reports leave the closing vouchers out, so a closed year still shows its income and expense. The trial balance and balance sheet include them. A closed year is locked, but an administrator holding the override permission can still post into it by giving a written reason, which is listed on the Year End screen.
Try it in the demo
- Open Settings ▸ Fiscal Years and read the Status of each year.
- Open Settings ▸ Posting Controls and read Books locked up to (inclusive). Do not save on the shared demo.
- Open the Year End screen in the Accounting module and read the Status column and the Note.
Public demo company, sign in as admin / demoAdmin123. Data refreshes nightly.
- Fiscal years, Books locked up to, filed VAT periods and the year-end close all block postings.
- Books locked up to is inclusive and is a soft close.
- The close moves net profit into retained earnings.
- An override needs a special permission and a written reason.
Check yourself
4 questions on this lesson. Not timed, not the exam, and you can try again. Score 60% or more, and read the lesson, to complete it.