The configuration of Sage 50 software impacts processing and reporting, hence it is necessary to understand the working of software effectively and efficiently. Sage 50 Accounting support software works with a single 12-month open period, hence individual month entries are not closed at the end of the month, allowing the entries late booked to update the period to which they are related. Sage 50 Lock date feature is ideal if the user wants to prevent transactions from being added to the accounting period which has already been treated as the closed period.
Since the months are not closed, aged debtors and aged creditor reports will run considering a date in past. Lock date setting allows the administrator to set a date prior, where only authorized users will be able to enter the new transaction into the Sage software.
What is the feature of Sage 50 Lock Date?
Sage 50 Lock date feature is used to prevent transactions from being added to an accounting period which has been closed and financial reports have already been generated to understand the state of the business. This is suitable for managers or supervisors who can override the blocking of a transaction. One has following rights in this case:
- One can set up access rights to control who can or cannot override the blocking of transactions.
- You can switch the feature off if there is any need for adding transactions.
- One can identify the transaction added during a closed period by generating a report for those transactions by process :
(Generating a report> Company>Financials>Reports>Transaction Reports>Late Entry Transactions ). One can view the “Late Entry Date” column displayed in Financials appearing on a Window screen.
How to Activate the Lock Date?
- First, the user needs to go to option (Setting menu> Lock Date)
- To activate the “Lock Date” feature, the user needs to select the “Lock Posting” before check box.
- Now the user can enter the last day of the period to lock the date. After selection of this option, the ledgers will be classified as “Open”.
- Now the user can click on option “Ok”. All the changes made to this feature including date changed can be located in the “Event Log” option in the system.
How to lock transaction dated before a certain date?
Following is the process to lock transaction dated before a certain date in Sage 50 Lock date.
- First of all, the user needs to log into company system as single user mode with “Administrative”
- The user needs to close all the Sage 50 appearing on window screen before clicking on option “View”.
- Next click on option “Setup >Setting>Company>System”.
- Check and verify no check mark in the tick box “Do not allow transactions dated before” field appearing on the
- Now the user needs to put a check mark (tick the option) in the field.
- The user can enter the required transaction dated before to “Lockout the transaction”.
- Now, one needs to click on the option “OK”.
Our Sage Technical Support Team
- After reading the above steps now it will be easy to know all about sage 50 lock date, sage 50 accounting periods, how to clear user locks in sage 50 accounts and month end procedures sage line 50.
- Sage 50 users can consider using the Sage 50 Lock date feature to close an individual month and avoid any kind of prior period adjustment by taking help of our Sage 50 technical support team across the globe in case of any doubts.
- Call the Remoteaccounting247 Sage Support Number ✆+1-800-961-6588.