Lock your valuables in safe.
Lock your sensitive document in the drawer.
Lock your house away from the unwanted visitor.
Lock your accounts to prevent data fall into the wrong period.
You lock the crossover period to prevent data wrongly entered or removed after you have migrated to MoneyWorks. Subsequently, you lock up the period after you have completed the:
Locking up the period is a necessity and responsibility of the accountant (administrator) to maintain data integrity and accountability.
You have to lock.
From the command menu, select open/close period. Then, highlight the period you wish to lock and hit the lock button to lock the financial period.
You may add period management as a month-end task. Manage the period after you have completed bank reconciliation or after the closing exchange rate has set for the month (If you are using multiple currencies for your business accounts).
You can unlock the locked period.
From the period management window, highlight the locked period and hit the unlock button to reopen the financial period. Unlock when need to record adjusting entry or audit adjustment which will only receive several weeks or months after you have closed the book.
You can proceed to the ‘close’ period after you have completed the audit adjustment (Usually, I will close the period once every 2 to 3 years). Both locked and unlocked period are open period, which you can keep up to 99. The older period has to close when the maximum number of the opened period has reached. You can still view the transaction even when the period has ‘closed’.
Lock up is temporary, whereas close is permanent. Backup your business account before you close it.
Reference: MoneyWorks User Guide, The Period Management.