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What is the difference between locked and closed periods

10-06-2021
Tags: accounting, Financials

Locking periods allows the user to prevent changes to the general ledger entries in a certain month without having to close the month.  The user also has the benefit of choosing which type of entries can be locked.  Closing months will prevent changes to all ledger entries and is only reversable by opening the months.

 

Locked vs Closed Months