Should I lock Fiscal Periods in Sage 300?

Michelle Poirier Finance, Sage

We do get this question a lot.  The short answer is yes.  The best reason to lock is to prevent people from posting to periods where bank reconciliations are complete and financial statements have been prepared.  If the fiscal period is not locked then Sage users can post entries including reversing cheques or enter receipts for periods that are closed in Sage.  If the fiscal period is locked then this cannot happen.
At this time of year, as you are preparing for Audit, you may also want to lock fiscal year 2018 to prevent any additional posting to 2018 while the auditors are reviewing your system.  Unlocking of 2018 can be done when there are entries to be made for year end.
This question and a number of other year end functions are discussed at our Sage 300 Refresher Training sessions.  To check the schedule visit www.abenaki.com/training