Here is the difference between between “Voiding” and “Closing” transactions

Voiding Transaction: If we click on void button automatically order quantity will become “Zero” and transaction amount will become “Zero” and in memo field by we will get message called “VOID”

Many businesses charge late fees or finance charges on invoices that are overdue. This allows business owners to recover costs incurred by carrying unpaid bills on their books. Finance charges are usually calculated on a monthly basis for all transactions that meet the criteria that the business owner has set up.

Lock functionality is performed by accountants in month and year end process. Once the period is locked no transaction can be created or edited in the locked period.