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briggsee
Level 3

can you post new year transactions before you do year end

 
Solved
Best answer January 11, 2021

Accepted Solutions
EmmaM
QuickBooks Team

can you post new year transactions before you do year end

Hello, it will not affect the transactions as they will show in the next financial year. Any journal entries you may need to do affecting the balance sheet or for retained profits will only be being done on transactions that fall in the period prior to January.

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4 REPLIES 4
John C
QuickBooks Team

can you post new year transactions before you do year end

Hi brigsee You can certainly enter/account for any transactions before running your reports.

briggsee
Level 3

can you post new year transactions before you do year end

Thank you.

I'm newish to Quickbooks.

Maybe I didn't ask the right question.

If I post transactions for January and my year end is December but I haven't done a year end process yet because I'm still receiving invoices etc, is that going to affect the accounts for the year ended 31 December 2020? Obviously I don't want it to affect the year end TB.

EmmaM
QuickBooks Team

can you post new year transactions before you do year end

Hello, it will not affect the transactions as they will show in the next financial year. Any journal entries you may need to do affecting the balance sheet or for retained profits will only be being done on transactions that fall in the period prior to January.

View solution in original post

briggsee
Level 3

can you post new year transactions before you do year end

Perfect, thank you Emma

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