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How do I close out my business?

We've had to close out business, and I need to finish off the books to close it once and for all, but I don't know how; any suggestions will be appreciated.

1 Comment
QuickBooks Team

Re: How do I close out my business?

Hello, 

 

Closing a business means that you're obligated to meet certain expectations in regards to keeping records, filing taxes, and securing your financial data. QuickBooks Self-Employed is there to help you keep track of the things you need. I'll help explain the process for you. 

 

First and foremost, I'd recommend consulting an accountant for help understanding what's involved in closing your business. They'll be able to help you by explaining what you need to save in your records, and what you can dispose of. This is important to ensure you're compliant with government regulations. 

Once you know more about the process, you're able to export the things you need from QuickBooks Self-Employed. If you want to keep a record of the work you did in QuickBooks Self-Employed, download the Tax Details report. This can be found on the Reports page.

 

Here's more information regarding exporting information from QuickBooks Self-Employed: Switch to another version of QuickBooks from QuickBooks Self-Employed. Although this article is geared towards switching programs, it explains in detail how to export transactions from QuickBooks Self-Employed into a .CSV file. 

 

In short, here's what you'll do: 

1. Open QuickBooks Self-Employed in a web browser on your computer.
2. Select Transactions from the left menu.
3. Select the download icon located above the Category column.
 

Full details can be found in the above article. 

 

Once you've saved all the necessary information from your account, follow this article for steps on how to cancel your QuickBooks Self-Employed subscription: Cancel your QuickBooks Self-Employed subscription

 

I hope this helps point you in the right direction. If you have any other questions for me, please don't hesitate to comment below. I'm here to help. 

 

Have a great day!