TABLE OF CONTENTS
- Closing Dates in Sync
- What happens when a closing date is set?
- How to choose the correct closing date
- Important limitations
Closing Dates in Sync
A closing date in Sync marks the end of a financial period that has already been finalized and reviewed. This means all transactions for that period have been reconciled, verified, and closed in your accounting system.
What happens when a closing date is set?
Once a closing date is applied in Sync, users cannot create or modify transactions dated before that closing date. This includes actions such as:
Creating or backdating of movements (receipts/ picks/ despatch/ transfers/ adjustments)
Creating or backdating of invoices
This restriction helps protect the integrity and accuracy of historical financial data, preventing accidental changes to periods that have already been finalized.
How to choose the correct closing date
The closing date in Sync should always match the end date of your most recently completed financial period in your accounting system.
Before setting the closing date, ensure that:
All transactions for the period have been captured 7 completed
Accounts have been reconciled
The period has been closed in your accounting software
Important limitations
Only one active closing date can exist in Sync at a time.
You cannot set future closing dates. The closing date must always represent the most recently closed financial period- dated today or in the past
Setting and maintaining an accurate closing date ensures that your financial records remain consistent, reliable, and aligned with your accounting system.
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