Feature Spotlight: Lock Periods

Lock past tax years. Optimize for the year ahead.

We've taken the anxiety out of tax optimization with our Lock Periods feature. Here's how it gives you total freedom to experiment without the fear of changing tax reports you’ve already filed.

• Freeze the past: Lock your previous financial years to keep transactions, categorisations, and inventory methods exactly as they were when you filed. That data is now set in stone.
• Optimize your returns: Want to switch from FIFO to HIFO for the current year? Go for it. With your history locked, you can change settings and strategies now without accidentally altering the numbers from past reports.
• Stress-free flexibility: Experiment with new accounting methods or recategorize recent trades with zero risk to your past filings.

This means you’re free to adjust your inventory method and chase the best possible tax outcome for each year while keeping your historical records unchanged.

How it works

Head to Settings > Lock Periods (or Client Settings > Lock Periods for accountants). Click Add locked period, set your end date, and save. The lock period automatically starts at the beginning of your data, and you can add multiple periods as needed.

Before locking, ensure you've reviewed all transactions and resolved any warnings. Once locked, that period becomes immutable while you work on current periods without restriction.

Why this matters

Lock Periods lets you implement better strategies for current years while maintaining the integrity of what you've already filed. This gives you the freedom to improve your current approach and confidence in your historical accuracy.

Note: Available on paid plans for users outside the UK and Canada.

Ready to secure your history and optimize your future? Log in to lock it down, or create a free accountto explore.

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