How to do account closing and lock journal date?

Modified on Thu, 20 May, 2021 at 12:23 PM

Why Biztory do not have close account option

As Biztory is a cloud-based accounting system, we keep the day-to-day data in the cloud. Therefore, you do not need to click the “Close Account” to close the server and refresh all the data during the opening of the year. 


Opening Account

You do not need to do any setting actions to start a new year account. You just need to create the necessary document with the actual date of the new year. 


How to do account adjustment (follow the adjustment in audit report)

  1. Get the audit report and audit adjustment journal entry from the auditor and follow the adjustment to key in into journal entries.


  1. “Add New” to fill in the necessary adjustment.


  1. Review and ensure the Profit and Loss, Balance sheet and Trial Balance Report figure as at financial year are tally with the audit report.


How to lock journal date in Biztory

  1. Click “My Biztory”


  1. Click on the Accounting tab. 


  1. Click on the date.

  2. Set the Journal Lock date you want to lock to ensure that previous year data is not edited by someone.


  1. Save it after it's done. 


  1. After setting the “Journal Lock Date”, you cannot insert and edit anything within the date anymore. For example, if you lock the date at 31/12/2020, you cannot insert the document before 31/12/2020, the data cannot be saved.




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