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Planview Customer Success Center

Impacts of Month Locking

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Close Fiscal Month also prevents actions in other related areas of the product from affecting project financial data, such as:

  • Cost and Billing Rate changes

Closing a month is often preceded by timesheet approval and resource replanning activities. Close Fiscal Month also triggers the Update Forecast function, which ensures that any outstanding resource forecasting work is completed and an accurate picture of actual financial data is achieved.

1. Financial Planning Views

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2. Non-Labor Resources

  • Budget Cost and Budget Revenue are overwritten with actuals.

  • After locking:

    • Budget Cost = Budget at Completion (BAC)

    • Expected Revenue = Revenue at Completion (RAC)

Important:
Non-labor budgets and forecasts are not auto-replanned. Differences between planned and actual values are not rolled forward.
→ Future non-labor plans must be manually updated before locking the month.

3. Labor Resource Assignments

If Update Forecast performed re-planning:

  • Labor Budget Cost/Revenue is recalculated for all periods after the locked month.

  • Updated values appear in Financial Planning only after a Refresh or after the scheduled nightly refresh.

In cases such month locking or configuration, the update forecast can run automatically. For example, in project month locking, the system takes the default Update Forecast method for projects which defined in System Settings (7.12) and can be overridden at the project level.

4. Task Start Dates

  • Tasks with start dates earlier than the locked month become manually set.

  • New tasks must start on or after the Start Date of the Current Fiscal Month.

  • Tasks created without an explicit start date default to the first available workday of the open month.

5. Timesheets

  • Approved timesheets before the locked month are permanently locked.

  • They cannot be reopened unless the month itself is reopened.

Depending on the “Timesheet Actuals Recognition Date” setting:

Reported Date mode

  • Timesheets dated in a locked period cannot be approved.

  • Options:

    • Reopen the month

    • Change the reported date to a later date

Approval Date mode

  • Timesheets cannot be approved until the locked month is reopened or completed.