When using any cloud accounting software, ensuring that the integrity of the data you input is not compromised in any way, by user error or otherwise, is important.

You need to be able to rely on the accuracy of the numbers you see in front of you, to be able to make decisions about, or for, your business.

Utilising the ‘lock dates’ function in Xero can be useful at the end of the year, when your final accounts are due to be prepared, when a specific reporting period has come to an end, or at month-end when management accounts have been finalized.

In fact, Xero recommends setting lock dates as part of its guidance on completing a year end.

What does ‘lock date’ mean in Xero?

If a lock date has been set up in Xero, this means that you cannot edit or add transactions if the date of the transaction is on or before the lock date.

This prevents any changes being made to previous reporting periods, and so errors being generated in relation to reports and accounts already completed.

Lock dates can be altered, or removed, at any time by those with an ‘advisor’ role in Xero. No other users have the necessary permissions to change lock dates.

How do I set, change, or remove a lock date in Xero?

The process of setting, changing, or removing a lock date in Xero is straightforward.

To set a lock date: –

  1. Click on accounting
  2. Click advanced
  3. Click financial settings
  4. Under lock dates choose the date that you want to lock – for example, ‘Stop all users making changes on or before – 31 Dec 2022’
  5. Click save

To remove a lock date or change a lock date: –

  1. Click on accounting
  2. Click advanced
  3. Click financial settings
  4. Under lock dates, remove the date or change to a new date

Helping you get the best out of your software

Our cloud accounting experts in Bedfordshire, Cambridgeshire, and Hertfordshire are here to help you explore what works for your business, and to ensure you’re getting the most out of your chosen software.

If you’d like to find out more about how Xero could help you to improve the quality of your data, and so the discussions we are able to have with you about your business, please contact us.

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