NetClose - Tiered Locking
Overview
With NetClose Close Control, users can precisely lock transactions from posting to the General Ledger. Tiered Locking expands on this functionality by allowing users to lock transactions based on specific combinations of dimensions under defined conditions.
Tiered Locking offers much greater precision than standard Close Control. In the basic setup, selecting a dimension—such as Subsidiary A—will lock all transactions associated with that subsidiary. If you also select Vendor B, then any transaction involving either Subsidiary A or Vendor B will be locked.
With Tiered Locking, only transactions that match all selected dimensions are locked. So if both Subsidiary A and Vendor B are selected, only transactions that include both Subsidiary A and Vendor B will be restricted.
The walkthrough below explains how to enable and configure Tiered Locking controls.
Click here to view the walkthrough in full screen.
Step-by-Step Process
- To enable Tiered Locking, go to NetClose > Setup > System Setup, then under the System Features subtab, check the Tiered Locking checkbox and click Save:
- To access Close Control, navigate to NetClose > Close Management > Lock Transactions & Account Segments.
- Select the Period you wish to lock, then click the New button to create a new control:
- In the side screen that appears, enter a descriptive Name for the control:
- Use the dropdown menu to navigate through the different locking criteria categories, and select all applicable options to include in the new control:
- After selecting the applicable options for the desired categories, click the Save button in the top-left corner:
- Once processing is complete, the created controls will appear in the table on the main screen:
- Clicking on a control from this screen will reopen the side panel, allowing the control to be edited or deleted as needed:
To create and edit a Close Control, a user must have NetClose Close Control custom record permissions of Edit or Full. To delete a Close Control, a user must have Full permissions.
- At this point, if a new transaction matches the criteria specified in a control for the given period, NetClose will prevent it from being saved. If an attempt is made to create such a transaction, an error message similar to the one below will appear: