Understanding Book Lock Date

The Book Lock Date is a critical feature in bookkeeping that helps secure the integrity of financial records by preventing changes to finalized data. This date must always be after the bookkeeping start date and is typically set to the last day of a month. Users move this date forward as they finalize their books for important events, such as earnings reports to tax authorities or external bodies like investors.

Purpose

Setting a Book Lock Date ensures that the financial data up to that date remains consistent and unaltered, providing accurate financial reports such as Profit & Loss statements and Balance Sheets.

Restrictions Imposed by Book Lock Date

Once the Book Lock Date is set, the following restrictions apply to any transactions on or before this date:

1. Deleting Transactions:
   • No transactions can be deleted.
2. Disconnecting Banking Accounts:
   • Disconnecting a banking account in either "auto" or "manual" mode is disallowed if it has transactions up to the lock date.
3. Deleting Manually Uploaded Transactions:
   • Deleting manually uploaded transactions is not permitted.
4. Deleting CSV Files:
   • CSV files containing transactions cannot be deleted.
5. Transaction Verification:
   • Transactions cannot be verified or unverified.
6. Rejecting Matches:
   • Matches on transactions cannot be rejected.
7. Creating Matches:
   • No new matches can be created with transactions.
8. Receipt Verification:
   • Receipts cannot be verified or unverified.
9. Invoice Verification and Payments:
   • Invoices cannot be verified or paid.
   • Payments on verified invoices cannot be canceled.
     
     
10. Creating Transactions:

• No transaction will be categorised/created before book lock date.

• Data Sync with QBO:
  • Docyt will not push any changes or new data to QuickBooks Online (QBO) for transactions on or before the Book Lock Date.
• Error Handling:
  • Users attempting any restricted actions endpoints will receive an error.