Year end- company has sold , I need to to a year end for Nov 13th. I know how to change the year end in QB. But I need to do another yend from Nov 14 to Feb 29. Can I just change the year end again? When do I do it? Will QB close to retained earnings twice in 12 m

I think I just figured this out. QB does not have the capability to do a mid month year end as you can only pick the first month of the fiscal year. I think I will have to do an entry to close the expenses, revenue and dividends to retained earnings. Then the February year end will have the proper numbers. Does this make sense to anyone? Trying to get my head around this

Hello ICM1,

I can absolutely assist you with this so you can make sure you're recording things correctly in your books. I know it's important to make sure all the details are just right.

You're correct about not being able to choose a mid-month date when setting the year-end parameters in QuickBooks Desktop. When it comes to these settings, they're really only for making it easier to filter your reports. For instance, when you pick from the drop-down menu for Dates on a report, you'll see options that include fiscal year. When you choose these, the program pulls the information based on what you entered in the settings.

This means you can edit this setting at any time without harming your books. You can also filter information and make entries as needed to record for your year as it's set up outside of the program.

I've got an article here for you that can help with accounting for your year end in the program. Check it out: Year-end guide and checklist

I hope that helps! Give me a shout if you need anything else.