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Level 1

QBO Month end closing entries

Hi. I’m new to qbo. I read that QBO automates closing entries at year end. Does QBO also automatically process month end adjusting entries as well every time you close the books? 

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Level 15

QBO Month end closing entries

automate year end closing entry is limited to moving last years net profit to retained earnings, or to owner equity if you are set up as a sole proprietor for taxes.

 

closing the books in QB is nothing more than setting a password to prevent editing/changing of past entries

 

no there is no month end closing absent what you do your self

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