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PVR FC
Level 1

Accounting Periods

So accounting periods are important for every accountant. It dictates the range within which you are focusing on.

I want to set my accounting periods but it seems impossible here. I want the ability to block postings beyond certain dates of my choosing.

So if i am working in the moth of January, I want to block all dates before first January and after 31st January.

Hence if a clerk is posting an invoice and mistakenly selects 25th January 2025 instead of 25th January 2021, the posting will not be done because those dates are un-opened. This is a common feature in most accounting softwares.

Is there a way quickbooks can do this?

4 Comments
Fiat Lux - ASIA
Level 15
PVR FC
Level 1

Accounting Periods

Thank you for your assistance @Fiat Lux - ASIA . However, this does not help me. Your solution takes care of past periods. So if my accounting year is 2021, I can lock up to 2020. This is not the problem in my case.

 

My problem is with future dates ahead of my accounting year. My current account year is 2021, but you find some clerks mistakenly posting into 2025.

 

Again, for hotels, we prefer to work and close our books monthly. Which means, even though my accounting year is 2021, i am currently working within January. Hence no postings should be allowed in February to December until those months are individually reached.

 

Your solution takes care of the past, I want another solution that takes care of the future. 

This is actually a standard feature in most accounting softwares.

Fiat Lux - ASIA
Level 15

Accounting Periods


@PVR FC wrote:

So if i am working in the moth of January, I want to block all dates before first January and after 31st January.

 

This is a common feature in most accounting softwares.

There is no such feature in QB. May I know which other accounting software have this feature?

WaTractor
Level 1

Accounting Periods

All of them have periods.  Not all accounting programs force you to set up periods and not let you post to future periods.

 

The issue is also about the ability to enter a true vendor bill date to a closed period.  You will never receive all of your January bills by January 31st.  You can correct your financials by accruing expected expenses through journal entries, but when the true bill comes in on February 25th and you've closed January, how do you keep your records straight when you can't post to January anymore.

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