This month’s QuickBooks® Made Easy™ QuickTips™ discusses a VERY important year end closing procedure: Setting a Closing date in your QuickBooks® file! This step is to make sure that no changes, additions or deletions are made to transactions after you have reconciled your books at year-end. This step should be completed just prior to giving the data to your accountant and ensures that your books will continue to match what your accountant puts on the tax return. Not doing this will create major issues later for your accountant and as a result, you, and we don’t want that! This tip will work with all Editions of QuickBooks®.

In this month’s QuickTips™ I walk you through setting up a year-end closing date and even set a password to lock out transactions that can mess with your books!

This Month’s QuickTips™ highlights:

  1. What does it mean to “set a closing date” and why would you do it?
  2. When is the best time to set a closing date and why?
  3. How do you set the closing date and who does it?
  4. What to do if adjustments need to be made after the closing date has been set?
  5. How and why you would set up a closing date password?

 

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