How “Data Lock Period” Works

Data Lock Period

A data lock period is a feature that prevents modifications to financial data within a specified timeframe. This ensures data integrity and consistency for reporting and auditing purposes.

Key Features of Data Lock Period:

• Prevents modification of existing transactions
• Stops creation of new transactions within the locked period
• Halts data ingestion for the specified timeframe

Specific Restrictions During Lock Period:

• Unable to recategorize or split transactions
• Cannot match invoices or bills
• No new transactions appear in the system for the locked period

Purpose:

The data lock period is crucial for maintaining accurate financial records, especially for reporting and auditing. It ensures that once a period is closed, the data remains consistent and unaltered.

Implementation:

Go to "My Account" — "Lock Date": select the date to lock the data.

Best Practices:

• Regularly review and set lock periods to align with your financial reporting cycles
• Communicate lock period schedules to all relevant team members
• Ensure all necessary transactions and adjustments are made before initiating a lock period

This guide provides an overview of the data lock period feature. For more detailed information or specific questions, please consult Pocket support team.