The password for closing the books will remain valid even if they change their subscription, AnnMc. However, a new password may have been created if a completely new account was established when they transitioned to Essentials.
Let me provide steps that can help you manage the password so you can enter transactions for 2020.
You can change the password in the company settings as long as you're logged in as the primary or company admin. I'd be glad to share the steps with you. Here's how:
- Go to the Gear icon and click Account and settings.
- Proceed to the Advanced tab.
- Look for Accounting and click Close the books.
- Delete the password in the Password and Confirm Password fields.
- Enter a new password and click Save.
In addition, you can adjust the Closing date to an earlier period than 2020. This will remove the prompt that would ask you to enter a password each time you enter a transaction.


Here's an article about this process for more details: Edit your closed books in QuickBooks Online.
As you add older transactions, you might also need to undo prior reconciliations or create adjusting entries. Here are some articles to guide you in case you need to do these tasks:
You can always visit us again if you need more help while sorting out the books in QuickBooks Online. We'll make sure to jump right back and provide assistance when needed.