Lockdown adjustment Guide

Lockdown adjustment Guide

How the lockdown works and what impact this has

General Overview
  1. Lock Down Function – This feature prevents users from creating entries prior to a stated date. You can apply the same date for all or individually. The above screenshot will prevent all users from doing any accounts entries dated prior to 31/12/2017. This does not prevent reconciling entries prior to this date but will prevent new entries being made. The lockdown function can be removed or amended at any time.
  2. Tick Box “Allow ledger adjustments…..” – Ticking this box will allow users to make adjustments on entries prior to the lockdown date. Any adjustments will be made in a separate ledger line and dated one the day the adjustment was made.




Adjustment Examples

  1. Client Name – Mr D Test
  2. Invoice date – 01/12/17
  3. Today’s date – 27/02/18

Policy premium details:


Sales ledger adjustment Example:

  1. Mr D Test pays £1100.00 on 27/02/18. The accounts have been locked down upto 31/12/17. He has short paid by £20. You are not going to chase the money and decide to adjust you commission (decreasing by £20). 
  2. In this case the original sales invoice will stay exactly the same and a separate sales credit will be created for the £20 adjustment dated 27/02/18.

Purchase ledger adjustment Example:

  1. According to the above we owe the insurer (Powerplace) £1020.00. When the statement arrive we actually only owe £950 in premiums. You decide to take the leftover £70.00 as commission (decrease the premium by £70 and increase the commission by £70).
  2. In this case the original sales & purchase ledger entries will again stay exactly the same. A separate Purchase credit will be created decreasing the premium (GPRM) by £70 and corresponding Sales credit decreasing the premium by £70 (GPRM) and increasing the commission (G*CT) by £70.

Additional factors to consider
  1. Adviser & Lead commission to be adjusted accordingly. 


  1. When making adjustments the above is selected by Default. This will proportion any Adviser & Lead payments according to the adjustment you have made and create a separate purchase ledger entry to increase / decrease the payaway.

Reporting Process
  1. Run lockdown on a specific day each month i.e. on the 1st lock down up to last day of prior month.
  2. Run transferable routine report to show all commission & fee’s that will be transferred and earnt in that given month.
  3. The report can be used for target / bonus purposes. Profit & Loss can be used for management purposes alongside other reports of your choice depending on what you wish to report on.

To be considered

The lockdown feature will prevent you from posting ANY new entries prior to the date specified so you will need to ensure all company outgoings in the purchase ledger i.e. wages, rent and other overheads will need to be entered prior to locking down. You can undo the lockdown for specific areas of the accounts e.g. Journals and Purchase ledger but this will apply to all users. 


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