Note: Entering a cut-off date prevents any purchase/sales/payments/receipt transactions from being posted before this date.  

When entering transactions, if a date before the cut-off date is entered, the system will automatically revert to the cut-off date prompting the user that the date entered is earlier than the preset cut-off date. 

Existing Businesses

As your business is already in operation for a number of periods then there are certain Opening Balances to be entered to indicate the opening financial positions of the business, e.g. opening bank balance, amounts due from customers etc.

The Cut-Off Date prevents any inadvertent adjustment to these prior financial period balances.  Therefore the Cut-Off Date will be the first day from which you start to enter transactions within Thesaurus Accounts, which is the first day of the new financial year.

Example:

•  Opening Balance Date                    31st December 2021
•  Cut Off Date                                        01st January 2022

All transactions will be posted with the earliest date of 01st January 2022 preventing the amendment to the financial data for the financial period ended 31st December 2021.

Entering a Cut-Off Date is optional and may be left blank if preferred or, if entered, may be changed at a later date.