Financial Year Lock

Financial Year Lock

Once your financial year suppose F.Y.2021-22 is completed and you need to freeze the same.
How you can do it in SHIPMNTS?
Let us understand this by taking an example.
For Example you need to freeze F.Y. 2021-22.
Kindly follow the below steps carefully :
  • Click on the navigation tab.
  • Go to System Administration.
  • Click on Account Settings
Here’s how it will look
  • System will redirect you to Account settings form.
  • Go to account frozen upto section> choose date as 31st March 2022 (in case of you need to freeze transaction upto  financial year 2021-22) as seen in image below
  • Click on the Save button as seen below
    • Related Articles

    • How to Map Fiscal year in Tax withholding categories?

      Please follow Below Steps carefully: Go to Navigation Tab. Go to Finance Management > Taxation. Under the section Tax Configuration > click on tax withholding categories. Select Tax Withholding Categories against which you need to map the fiscal ...
    • How to Add TDS for previous fiscal year invoice?

      In most of case it's possible that sales invoices are made in 31 March or before that and customer has made payment in month of April or letter. In such cases, to show TDS impact in last year for last fiscal year invoices, there is a simple step ...
    • Sales & Purchase Lock

      Let us understand this by taking example. Suppose you need to freeze sales and purchase invoices up to the period 31st March 2022. Kindly follow the below steps as seen in the image below: Click on the navigation tab. Go to System Administration. ...
    • Accounting Period Manager Report

      Accounting Period manager report helps the finance manager to lock the period once all the transactions are completed to avoid backdated posting of transactions in the previous financial year. In this report, you can lock a particular month's sales, ...
    • Period Closing Voucher

      SHIPMNTS has an automation process for closing the Financial year. A Period Closing Voucher indicates that the profit/loss for an accounting period has been balanced and the books can start fresh. At the end of every year or (quarterly or maybe even ...