There are two things you can lock: Transactions and Accounting information.

Transaction locking vs. Accounting locking

General difference:

Transaction locking

1. Transaction locking doesn’t allow you change anything (name, dates, amounts, revenue recognition, etc)

2. The lock date looks at the start date of the transaction

Accounting locking

1) You are able to change items in the transaction

2. The only thing that is locked is the Accounting information, such as recognized revenue, invoiced amounts. The accounting Revenue will remain the same even if something about the transaction is changed.

3. The lock date will lock anything in Accounting Revenue before that date

Accounting locking - more details:

These are additional (more granular) cases where the accounting spread will be locked:

• if new invoice with date before lock date
• if changing amount of existing invoice before lock date
• if changing date of existing invoice where the original date was before lock date
• if changing the date of an existing invoice where the new date is before the lock date
• if deleting/voiding an invoice with a date before the lock date

How to activate the locks

You can lock both options in the Transactions page, in the corresponding toggles in the top of the page: