Prior Period Lock Explained

Prior Period Lock is used to lock financial details to reduce fraudulent activities and reporting discrepancies. 

A common reporting discrepancy presents when payments have been made to Providers, then someone changes treatment information. A Provider may then be over or underpaid and there is no way to know.

Prior Period Lock will allow changes - by selected people only - in a locked period, and will show in reports on the date of the change.

For example: if treatment dated 22/10/2020 is modified on the 03/11/2020, when running a report that includes the 03/11/2020, the changes will show. 

 The most common times to lock financial data are:

1. End of each day, after reconciliation, or

2. After paying employees/contractors

Some examples of the Prior Period Lock feature are the inability (without security permission) to:  

• Create an invoice as per treatment date if the treatment is in the locked period

• Delete an invoice if the invoice is already in the locked period

• Change the provider if the treatment/invoice is in the locked period

• Create receipts in the locked period

• Create bank slips in the locked period

Links: 

Activate Prior Period Lock

Set Security on Modules/Features/Actions

Set Security Permissions

Set Prior Period Lock Security Permissions

Lock Financial Data using Prior Period Lock

Prior Period Lock Audit Trail Reports