Hi jullianne, I don't think I fully understand your question. Are you asking about closing off a reconciliation? The more information you can provide me, the better! Thanks.
Thank you for replying to my query.
Our company is starting to report with a Canadian accounting calendar. Because of that, our EOM cutoffs are not the last day of the month. It is generally the last Thursday or Friday of the month, which could be like the 26th of the month, or the 28th of the month.
With that in mind, I’m setting up repeating journals and accrual reversals as well as close of debtors and creditors. Is it possible to set up Quickbooks, so the month will close off at different times in the year ( depending on the month)? For instance, can the accruals for April 2019 be reversed on the 27th of April, rather than the 1st of May?
Does that make sense?
I know I can close off the books at any time, but it is more the automatic journals etc that I am setting up, that need to be reversed on the correct date.
Thanks for your help.
Hi Julianne, thanks for clarifying. I'm concerned that I might not have the answer you're looking for - particularly with regards to that automation piece. Journals can be set to repeat on the last Thursday or Friday of the month, which may get you half of the way there. Reversals may be trickier, as I don't think that you can automate this process.
I'd love to speak to the extended development team to understand more. I will pass on some feedback on your behalf and let you know if I find out anything worth sharing. Is that OK? I'm sorry I don't have a better answer!
Thanks for trying to sort out my problem. I understand that a lot of Canadian/European companies report differently than the last day of the month, so this solution might help other people.