I am from Pakistan, we have to submit all data to tax department by 15th of next month,
like i have to submit all data from last month tax department by 15 march.
so invoices should not be editable after that date.
it might not be usable for all but its very imp here in our country.
I agree with your request. Mostly accountants would lock periods monthly right after they perform their closing adjustments. But for digitized invoices, locking needs to be done either more frequently – possibly daily, or in a more granular way – lock each transaction individually.
Personally I hate the second method of individually locking transactions but daily locking for sales invoices and credit notes is the way to go. But that might interfere with other areas of business which are usually closed monthly.
In order to achieve that separate locks need to be maintained:
A lock for billing (Sales invoices + Credit notes)
What about a lock for payslips (weekly, forthnightly, monthly,…) expense claims, and whatever you want yourself
I think that KISS is a much better solution - trying to satisfiy everyone’s wants (needs?) is a recipe for making the software so complicated, that a whole new business will arise to support the myriad of different configurations available
This isn’t about user’s wants or needs, this is about compliance with tax regulations.
You have to be aware of the invoice digitization trend that’s taking over the world. Once an invoice has been digitized it can’t be changed. Some laws require daily digitization.
If your answer to this is to apply daily locks for the entire database then you’re implicitly requiring daily closing of all accounts. Seriously???
We can all say no to that but billing data is a completely different situation. If Manager fails to deliver a product that complies with tax regulations in a certain country then Manager has effectively lost that market for good.
The problem is that it isn’t a single country, the whole world is heading in that direction: Greece, Italy, India, Saudi Arabia, Ghana … and the list goes on. That’s the size of Market at risk right now and it’s growing by the day.
It may seem stupid for some, but the reality remains that a separate locks just for billing data is the most effective and least costly solution available at this point.
If you have an alternative solution then please share it but to completely shrug this off as a non-problem isn’t helping anybody. It’s just making the thread longer than it needs to be.
No matter what solutions are put in place, all computer systems will allow someone to go in and alter the data - only moving to blockchain technology will guarantee nonalterable data and that’s a long way off yet