Lock Transactions before Specific Date - Permanent or Adjustable?

Lock Transactions before Specific Date - Permanent or Adjustable?

Hi,

If I use the feature to lock the transactions before a specific date is that locked forever and permanent? Or is it possible to adjust the date later on? 

Use case: 
I want to lock transactions for February since I already reconciled February. I don't want myself or other users with access to accidentally change something that has already been matched or reconciled. So in theory, I would set the date to lock for 2/28/2015. However, if for some reason, there was a mistake and I need to make a correction, I want to be able to remove the lock date (or perhaps set it earlier), fix the error, and then apply a new lock date.

Is that possible? 

Thanks!
Emily