This help article is related to the Production Accounting Suite (PAS)
In Wrapbook, production accountants and administrators can manage budgets using either the Production Accounting Suite or Cost tracking. To understand the differences, click here.
The Production Accounting Suite (PAS) is permission based
To access PAS features in Wrapbook, your account must have one of the following roles enabled:
Role: Company Admin, Accountant
Custom role with: Accounting & Cost Tracking / Budgets (Production Accounting) - Full access
Overview
The period pre-close lock lets accountants with the appropriate permission lock an accounting period to control who can add or post transactions during that time. When a period is locked, team members without posting authorization see a notice and cannot post to that period until it is unlocked or they receive the required access.
Use the period pre-close lock to protect accounting work before closing a period and prevent unauthorized changes.
How to access
In the left-side navigation, click the dropdown menu to select the project
In the Project menu, click Project settings
In Project settings, click Accounting
In the Accounting settings, click Manage next to Periods
Review unposted transactions before closing a period
You can review unposted transactions before you lock or close a period.
Click the unposted-transaction count for the period
In the Unposted transactions drawer, review the transactions
Select the transactions you want to post
Click Post
You can also start the review from the Close period confirmation popup by clicking Review transactions. Wrapbook opens the Posting page with a banner that says: You’re reviewing unposted transactions before closing the [dates] period. Unposted transactions will be moved to the next open period when this one closes. Click Return to close to return to the close workflow.
Authorized users can select transactions in the Posting page and click Post. The Confirm posting popup states that posting is irreversible. After posting completes, Wrapbook shows Successfully posted [X] transactions and indicates that the posting report is being generated.
How to lock an accounting period
In the row for the current period, open the Actions menu
Click Lock period
Review the confirmation popup
Click Lock period to confirm
The confirmation popup shows how many people can still create and post transactions after the period is locked. It also shows how many unposted transactions will be routed to the next open period when someone tries to post them. Click Edit permissions in the popup to review or change access before locking
After locking, the period status shows Locked with a count such as 1 person can post or 2 people can post. The Actions menu includes Unlock period, Edit permissions, and Close period
How to unlock an accounting period
In the row for the locked period, open the Actions menu
Click Unlock period
Review the confirmation popup, then confirm the unlock
The confirmation popup states: Are you sure you want to unlock this period? New transactions will default back to this period. After the period is unlocked, a confirmation message shows that the period was unlocked and new transactions can default back to it
What happens when a period is locked
When an accounting period is locked:
The period remains visible in Periods
The period row shows Locked and may include 1 person can post or 2 people can post
Company admins always have access to create, post, and edit transactions in locked periods
Team members granted locked-period access can create, post, and edit transactions in the locked period
Team members without locked-period access cannot create a transaction with an effective date in the locked period
Team members without locked-period access cannot post transactions to the locked period
Unposted transactions are routed to the next open period when someone tries to post them
When an unauthorized team member tries to post, Wrapbook shows: This accounting period is locked and cannot accept newly posted transactions. Contact a project accountant or admin for access. The error includes a Reload and try again link.
A distribution change can follow a separate workflow. See Create a distribution change from a posted transaction in a locked period.
Manage access to a locked period
Company admins and team members with locked-period access can create, post, and edit transactions in a locked period.
In Periods, open the Actions menu for the period
Click Edit permissions
In the Locked period access popup, review the team members listed under Name and Access when locked
Toggle access on or off for the appropriate team member
Click Save changes
The Locked period access popup states that Company admins always have access. The period-lock confirmation popup shows how many people can still create and post transactions after the period is locked.
Create a distribution change from a posted transaction in a locked period
A team member without permission to create transactions in a locked period can still create a distribution change from a posted transaction in that period.
Open the posted transaction in the locked period
Click Distribution Change
In Revise Distribution Tags, update the Acct value
Click Process changes
Review the success message, Distribution change was successfully created
Open the new distribution change and review its dates and posting status
Wrapbook creates the distribution change as a new unposted transaction using the current date.