Table of contents
Overview
In order to support the closing of accounting periods, Zuora has implemented Accounting Lock Date as a controlled release feature: We allow a limited number of customers, who meet certain qualifications, to use this feature. Contact Zuora Global Support if you are interested in being part of the controlled release program for this feature.
Accounting Lock Date Feature (Controlled Release)
Customers participating in this controlled release are using this feature to prevent further changes to transactions and creation of subscriptions before the lock down date. This allows companies to meet auditing requirements, since they can guarantee that Zuora's data will not change. Lock down means that the customer can run financial reports/extracts for this period and the data will NOT change. This is important so that an auditor can review the system and see consistent transactional data that were used to create the Financial Statements.
You cannot perform the following actions with locked down transactions:
- Create: External and Electronic Payments, Refunds, Invoice Adjustments,Credit Balance Adjustments, Subscription or Amendments
- Delete: Invoices, External and Electronic Payments, Refunds, Invoice Adjustments, Subscriptions or Amendments
- Post: Invoices
- Cancel: External Payments, Refunds, Invoice Adjustments, Credit Balance Adjustments, Subscriptions or Amendments
- Void: Electronic Payments
Solution
To have the Accounting Lock Date set by Zuora Global Support, you must prepare for the close:
- You cannot have draft invoices or payments in
Processingstatus: Draft invoices are invoices associated with a Billing Account that have not been Posted. The draft invoice has charges associated and has a specific invoice date. Setting an Accounting Lock Date will prevent any changes to the draft invoices, so the draft invoices will never be posted, and the charges on the draft invoice will never be billed. Prior to Setting an Accounting Lock Date, you must delete all draft invoices. Look for any objects that are not inActive/Posted/Completedstatus and correct them. - You have added all usage charges: Usage charges will not be able to be added to an accounting period once it has been closed. Make sure that you have loaded all usage.
- Contact Zuora Global Support: Contact Zuora Global Support to close your accounting period.
Related
- Closing an Accounting Period (Beginner)
- Creating an Accounting Period (Beginner)
- How long should my accounting periods be?
- How many past and future accounting periods should I create?
- How should I handle unprocessed charges in an accounting period?
- How can I review information about my accounting periods?
- How do I clear draft transactions when I close an accounting period?
- How do I close an accounting period?
- How do I reopen an accounting period?
- What can I do with a closed accounting period?
- What happens when I change the status of an accounting period to Closed?
- What is the lifecycle of an accounting period?
- What is the purpose of an accounting period?
- What's the purpose of a trial balance?
- Why is there an accounting period with no end date on my Accounting Periods page?
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