Another improvement to our accounting software based on feedback from our customers:
In Settings -> Advanced Settings you have the option to lock transactions up to a certain date.
We’ve now added an option in Settings – VAT Settings to automatically lock transactions after you submit a VAT report.
So if you run and submit a VAT report for the period ending 31/3/09 and have this option enabled, the transaction lock will be turned on and you won’t be able to enter any transaction on or prior to 31/3/09.
If you don’t lock transactions and you later enter items in a date range covered by an earlier VAT report, don’t worry – these will be picked up and reported on your next VAT return. This setting is controlled in Settings – > Advanced Settings -> VAT Reconciliation.