Year End & Opening
Before finalisationAccounting period lockDo not confuse this with a VAT return lockPass to Accounts Production
Before finalisation
Completion gateBank reconciliations are complete.VAT return/control position is explained.Debtor and creditor subledgers agree to controls.Payroll/CIS controls are reconciled.Fixed assets and loan schedules agree to the TB.Accruals/prepayments and material journals are reviewed.Trial Balance, P&L and Balance Sheet have been reviewed.
Accounting period lock
Once the accounts/period is locked, Balansix should block entries and changes dated inside that protected period for all client types. Unlock only when a genuine correction is required and keep the reason/audit history.
Do not confuse this with a VAT return lock
A submitted VAT return lock freezes that return but can allow legitimate late accounting dated in the same period to flow to the next open VAT return. An accounts lock protects the accounting period itself. See VAT returns and locks.
Pass to Accounts Production
When the accounting record is final and the reports agree, move to Accounts Production. Correct accounting errors in the Accounting Workspace rather than manually altering statutory figures.