Locking Books in VR Trust
Objective
Lock the books in VRTrust to prevent changes in the general ledger (GL).
Key Steps
Step 1: Access Settings 0:03
Open VRTrust.
Click on Settings.
Click on Books Close Date.
Step 2: Enable Locking Feature 0:25
Toggle to enable or disable the books closed date
Select the date through which you want to close your books (e.g., November 30th).
Step 3: Save Settings 0:39
Click on Save Settings to apply the changes.
Note: If you try to post an expense in a closed period, you will receive an error preventing the transaction. Reservations or changes from the property management system do not sync if they fall within a closed period.
Cautionary Notes
Ensure all owner statements are published and bank accounts reconciled before locking the books.
Locking the books is a permanent action for the selected period; ensure accuracy before proceeding.
Tips for Efficiency
Regularly review and reconcile accounts to minimize adjustments needed before closing the books.
Set reminders for closing dates to ensure your books are closed on time.