How to make changes in closed year or to unclose

@AnnMc  Unless you're planning to amend the relevant closed years' tax returns and all years after them, I doubt it'll be a good idea to make significant changes within those closed periods. It's generally recommended to make the necessary corrections within the current year.

At any rate, one of the staff will probably be along sometime today to tell you how to unclose the period. I'unno how that process works in QBO.

We have outlined detailed steps to assist you in managing your password so that you can enter transactions for 2020, @AnnMc.

I noticed that you have mentioned this concern twice in our forum. Rest assured, my colleague has already shared a solution that should help you efficiently manage your accounts. You can follow this guide by visiting the link: https://quickbooks.intuit.com/learn-support/en-us/other-questions/re-how-to-unclose-a-year/01/152466...

Please feel free to keep this thread active for any further questions you might have while managing your account in QuickBooks Online. We are here to provide immediate support whenever you need it.

I kept seeing error messages & it didn't look like my question processed.  It tried several times then gave up.

Thank you for returning to the thread and sharing your experience, AnnMcI. So you can proceed with making adjustments to your finalized records.

Please note that any changes made to closed books will impact your accounts' current balances. Adjustments or modifications in prior periods can affect financial statements and account balances. It's best to review these adjustments carefully before proceeding.

If you haven't yet managed the password for your closed books for 2020, we can change it to ensure secure access and proper management of your financial records.

Follow this:

1. Log in to your account as a primary admin.
2. Navigate to the Gear icon and click Account and settings.
3. Select the Advanced tab.
4. Find the Accounting section and click Close the books.
5. Remove the existing password in the Password and Confirm Password fields.
6. Enter a new password and click Save.

For more detailed information to this process, check this article: Edit your closed books in QuickBooks Online.

Also, you can reach out to your accountant, as they are the one who created the password. They can assist you with any changes or provide additional information regarding access to your closed books.

After reopening your books, you have the ability to undo or remove transactions from reconciliations for future reference.

Did you know you can get personalized assistance and expert guidance for all your reconciliation needs? Consider exploring QuickBooks Live Expert Assisted, where you can connect with professionals who can help you navigate the reconciliation process effectively.

We just wanted to let you know that if there's anything you need help with when it comes to managing your books in QuickBooks, we're here for you. Whether it's a small question or an ongoing concern, don't hesitate to get back to us. We're always ready to assist.