Closing a Fiscal Year Using LockDate - Odoo 16 | How to Close a Fiscal Year in Odoo 16

Do we need to close by end of monthy?Otherwise, Need to do only End of Fiscal Year ?
Ex: Start Date is Jan and End Date is Dec. Do need to close on End of Jan ?

After locking the date invoice can not be before the lock date ok but can we resgister the cash or bank payment date before the lock date or not?

Good tutorial. Thank