Learn how to stop changes to entries before a specified date with a closing date and password.
In QuickBooks you can use a closing date and password to stop changes that can affect your reports. We recommend you close your books when a new year starts. Here’s how.
Set a closing date and password in QuickBooks Desktop for Windows
- Open QuickBooks and sign in as the admin.
- Go to Company, and select Set Closing Date.
- Enter a Closing Date and Closing Date Password.
- Select OK.
Note: If you void a cheque dated before the closing date with an expense account, you'll see the following message:
To maintain the accuracy of your financial reports and balance the accounts affected by the cheque, QuickBooks can create a journal entry in the earlier period and a reversing journal entry in the current period. Would you like QuickBooks to void the cheque and enter the appropriate journal entries for you?
Select Yes for QuickBooks to create two journal entries to balance the accounts affected by the cheque. Creating journal entries is optional. You can still void the cheque, if you need to.