What is a lock date?
Lock dates are used to ensure no further changes can be made to the Figured Actual transactions prior to a certain date. This is often used by accountants once end-of-year compliance work has been completed and prevents any further changes within the locked year.
How does the lock date work in Figured?
When the lock date is enabled in Figured, the lock date is pulled from your accounting software into Figured. Transaction entry for Actuals in Figured prior to the lock date will be disabled, effectively making Actuals read-only before the lock date. You also won’t be able to post from Figured to your accounting software prior to the lock date.
On file creation, the new files will not have their lock date enabled to allow for comparatives to be entered.
Where do I find the lock date in Figured?
You can check your lock date (pulled through from your accounting software) and enable/disable lock dates for your file by heading to the ‘Settings’ > ‘Lock Date’ page.
If enabled Figured will become read-only for Actuals prior to that lock date set in your accounting system.
If disabled you will still be able to enter Actuals in Figured, however, if these transactions are attempting to post to your account system you will not be able to save them.
NOTE: This feature has not changed the functionality of how Figured interacts with your accounting software when a lock date is set in your accounting software. Figured journals will not be posted to accounting software if it is prior to the lock date set in the accounting software.