Locked Period for Instalment payments

Contributing Cover User Lynzo
6 Posts
Contributing Cover User
Contributing Cover User

6Posts

0Kudos

0Solutions

Locked Period for Instalment payments

I use Account Right.  I have completed tax for 2018/9 year and have locked that period so I don't make any changes.  I have an invoice in the locked period that was entered in March 2019 that has instalment payments made against it.  When I bought up the invoice and went to enter the payment a message came up saying "you can't edit purchases in a locked period."  It then let the payment go through - which surprised me because of the message that had popped up (I hadn't unlocked the period).  Whilst I agree that I shouldn't be able to edit the purchase in the locked period, I should still be able to post instalment payments outside of that locked period without receiving a message telling me I can't do that.  Otherwise how would companies cope that received a lot of instalment payments or offered lay-buy.  I have checked the 2019 year end and P & L and Balance Sheet haven't changed so the payment hasn't affected any figures in the eoy period.  I guess what I'm wanting to ask is why did I get that message when payment was allowed and it hasn't affected eoy figures?  

5 REPLIES 5
MYOB Moderator Steven_M
32,904 Posts
MYOB Moderator
New Zealand
MYOB Moderator

32,904Posts

4,404Kudos

4,778Solutions

Re: Locked Period for Instalment payments

Hi @Lynzo 

 

When you lock a period via Setup>>Preferences>>Security>>Lock Period: Disallow Entries Prior to, this should prevent all entries prior to recording that date from being entered. Should a date that is entered prior to that lock period date you would encounter a message similar to the following:

 

Attachment.PNG

 

You mentioned in your post that you have entered a payment dated on that transaction that was done in a lock period. I would be interested to know A) how that payment was generated, B) the date on which that payment transaction was recorded C) the lock period date. As just following the process you have described, opening the purchase and selecting payment this would generate a pay bills transaction dated today's date which unless not changed (or the lock period set in the future) would allow access as it would be after the lock period date.

Kind regards,
Steven

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

Did my answer help?

Mark it as a SolutionHelpful? Leave a to tell others

Contributing Cover User Lynzo
6 Posts
Contributing Cover User
Contributing Cover User

6Posts

0Kudos

0Solutions

Re: Locked Period for Instalment payments

Hi Steven, Here is a pic of what happens.  Purchase raised initially in March 2019.  EOY period closed but I still have to enter payments against Purchase because we make monthly payments past the closed period.  When I go to post payment dated in October to the Purchase raised in March it brings up the message.  But when I check the bank the payment it has actually gone through.  It hasn't affected the previous P & L or the Balance Sheet and the bank account reconciled - so everything is ok there.  I believe that I should be able to make payments against a Purchase even if it is dated in the locked period.  I'm thinking there must be a glitch in the system unless I am doing something wrong but I can't see how I could be.  (NB:  I may have called it an Invoice in previous post when it is a Purchase I am referring to not a sale).  Thank you in advance for your help.Payment to invoice raised in locked period.PNG

MYOB Moderator Steven_M
32,904 Posts
MYOB Moderator
New Zealand
MYOB Moderator

32,904Posts

4,404Kudos

4,778Solutions

Re: Locked Period for Instalment payments

Hi @Lynzo 

 

When you have Setup>>Preferences>>Security>>Lock Period: Disallow Entries Prior To xx/xx/xxxx the system should prevent all transactions from being recorded prior to that date. This does include purchases, payments, sales, banking transactions... The system will prompt you with an alert to that when recording that transaction:

 

Attachment.PNG

 

It should also be noted that the wording on the Lock Period is Disallow Entries Prior To xx/xx/xxxx. You can still record a transaction for that lock period date, anything PRIOR to that date will be disallowed.

Kind regards,
Steven

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

Did my answer help?

Mark it as a SolutionHelpful? Leave a to tell others

Highlighted
Contributing Cover User Lynzo
6 Posts
Contributing Cover User
Contributing Cover User

6Posts

0Kudos

0Solutions

Re: Locked Period for Instalment payments

Thank you again Steven. 

I feel that if you are able to apply payments made outside of the locked period towards a purchase/invoice that has been raised within a locked period then that notice shouldn't even come up because you are not changing the actual purchase/invoice within the locked period just applying a payment to it which is allowed.  All it does is add confusion when that notification pops up.  Is it possible for MYOB to review this please.

Regards,

Lyn

MYOB Moderator Steven_M
32,904 Posts
MYOB Moderator
New Zealand
MYOB Moderator

32,904Posts

4,404Kudos

4,778Solutions

Re: Locked Period for Instalment payments

Hi @Lynzo 

 

To my knowledge, we don't have any immediate plans to look into the warning messages that occur with respect to lock periods. If the date of the transaction, regardless of whether it is in a sale, payment or another type of transaction, falls into a lock period the warning prompt will appear to alert the user to indicate that a lock period has been set up and the date falls in that period.

Kind regards,
Steven

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

Did my answer help?

Mark it as a SolutionHelpful? Leave a to tell others

Didn't find your answer here?

Try using advanced search to find a post more easily Advanced Search
or
Get the conversation started and make a new post Start a Post