Is it every advisable to UNLOCK prior periods to correct errors in posting from our bank feeds (e..g posting a deposit to a suspense account) when it should have been posted to a purchase refund, or will it have an impacted on our reported financials.
Hi Happygirl
Thank you for your post. With the process of unlocking prior periods, we highly recommend speaking to your accountant or bookkeeper before working in a prior locked period. Making changes to a period you have already prepared reports for could have compliance implications.
You may also have a look on this Help Article: Lock A Period and Transacting in closed financial years that has detailed information and instructions to assist with this.
If you need further help with this don't hesitate to start a new post or reply to this post and we'll be happy to assist.
Cheers,
Shella_A
