The Advanced Finance Settings section in Maxio allows administrators to configure key financial controls for their organization's account. Close and lock dates protect closed periods, and setting them to update dynamically means the protected window moves forward on its own instead of needing a manual edit each month.
Located in the Admin > Account Settings form, this section enables precise control over financial reporting boundaries using lock and close dates.
Access to these settings requires Admin permissions.
How it works
These settings define the key dates that guide your organization's financial activity, controlling when subscriptions, invoices, and transactions can be created or modified.
- Fiscal Year Start Month - Defines the starting month of your organization's fiscal year. The End of Previous Fiscal Quarter option below uses it to work out where your quarters fall.
- Dynamically Update Closing Date - Sets a date on or before which Maxio blocks changes to revenue entries, invoices, and contract changes. Activity dated after the closing date is permitted.
- Dynamically Update Transaction Lock Date - Sets a date on or before which Maxio blocks edits and deletions of Transactions, including Subscription details. This date is enforced separately from the closing date.
Both settings offer the same choices. Whenever you pick a dynamic option, Maxio recalculates the date against the current day, so the protected window advances automatically.
Options available for both the Closing Date and Transaction Lock Date
| Option | Description |
|---|
| Manual Date | Turns off the automatic calculation, so the date you type in is used. This is the default setting. |
| End of Previous Fiscal Quarter | The last day of the prior fiscal quarter, using the Fiscal Year Start Month to determine where quarters begin and end. |
| End of Previous Calendar Month | The final day of the immediately preceding calendar month. |
| 30 Days Prior to Today | Exactly 30 days before the current date. |
| 60 Days Prior to Today | Exactly 60 days before the current date. |
| 90 Days Prior to Today | Exactly 90 days before the current date. |
- From Admin, go to Account Settings and click Update Settings.
- Scroll to the Advanced Finance Settings section.
- Set the Fiscal Year Start Month, Dynamically Update Closing Date, and Dynamically Update Transaction Lock Date as needed. Selecting a dynamic option fills in the calculated date and makes that date field read-only; selecting Manual Date clears the restriction so you can enter a date yourself.
- Review the inline help text for clarification on each setting's function.
- Click Save to apply your changes.
Rules and best practices
Keep the following in mind when setting these dates:
- Only users with Admin permissions can update these settings.
- Maxio blocks activity dated on or before the closing date, and permits anything dated after it. Entering an earlier date returns an error naming the current closing date.
- If you have connected QuickBooks or Xero, that integration carries its own closing or lock date, and Maxio enforces it in addition to yours. When the integration's date is later than your own, it is the one that governs, so check both before assuming a period is open.
- Transaction lock dates are enforced independently and are not combined with the closing date.
- Set close and lock dates in accordance with your organization's fiscal calendar and compliance requirements.
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