Develop a strong compliance strategy by locking transactions once an accounting period ends. The smart locking mechanism disables changes such as adding a transaction, reversing a transaction, or reprocessing reservations once the accounting period is over. The locked accounting period can be monthly or yearly depending on your preferences. Follow the steps below to change the locking period.
Note:
Only team members with permission to lock accounting periods can reprocess reservations and reverse or add transactions after an accounting period has been locked.
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Step by step:
Tip:
Beta navigation users, please note that the steps below refer to the navigation as seen in the Legacy mode. Read more here about locating menu items in the new navigation.
- Sign in to your Guesty account.
- In the top menu, hover over Financials.
- From the drop-down, click Accounting Setup.
- In the menu to the left, click Lock Accounting Period.
- Choose your preferences for how often an accounting period will lock, when the locked period will start and end, and when the transactions will lock after a period ends.
- Click Update accounting period in the top right corner of the page.
Important:
Changes made to locked transactions impact your statements and balances.
