Lock returns ready for filing

Introduction

You have five business days — eight business days for customers on Anrok's Growth plan — to personally review and approve a return before Anrok automatically approves it. During the review period, the return will have a status. While a return is in this status, transactions received by Anrok that are back-dated to the return period will continue to be added to the return until the return is approved. 

Customers on Anrok's Growth plan can lock returns with a status from receiving new, back-dated transactions, allowing your ERP system to align with your return filings. This helps with the following:

• Better cash flow planning — When internal reporting aligns with filing deadlines, you can more accurately forecast tax liabilities and plan cash needs throughout the period rather than scrambling at filing time. 
• Simplified reconciliation — Matching periods makes it easier to reconcile your ERP data with filed returns. If an auditor or tax authority questions a figure, you can trace it directly back to your system without having to explain period conversions or adjustments.
• Streamlined audits — Both internal and external auditors can more easily verify that filed returns match your books when the periods align, making audits faster and less painful.

By locking returns before approval, you create a clear cut-off point that keeps your internal books and tax filings in sync, reducing administrative burden and improving financial accuracy across your organization.

Lock a return ready for filing

Before Anrok automatically approves a return, you can lock the  return to prevent it from receiving any additional, back-dated transactions. Once the return is locked, it will be moved to a status.

Try locking a return ready for filing in the demo above ☝️

1. In the Anrok app , go to Returns & payments. Take me there!
2. Under the Action required tab, select a return with a status.
3. Select the Drop-down button , then click Lock for review.