Year End Closing

Hello there, @christinebenke.

I'm here to guide you on how to turn-off the automatic year-end closing of your books in QuickBooks Desktop. This way, you'll be able to manage your account and its transactions manually.

Closing your books in QuickBooks will prevent any accidental changes that'll affect your business reports. The system follows the closing date set in the Company Preferences window. To do it manually, you can remove it and reopens the closed accounting period.

1. Go to the Edit menu.
2. Select Preferences.
3. Choose the Accounting menu.
4. Select the Company Preferences tab.
5. In the Closing Date section, click the Set Date/Password button.
6. Delete the date in the Closing Date field.
7. Click OK.

Once you're ready, you can close your books. Then, run the Closing Data Exception Report where it lets you view the current and past closing dates and other users who set the closing date.

In case you want to change the closing date or forgot the password you used to lock your books, you can easily edit them by performing the steps in this article: Edit your closed books. It also contains information on how to track any changes made after you close your books.

Please let me know if you have other concerns. I'm just around to help.

There actually is no year end closing in QB, though I have heard what it does called that.

Instead, all it does is roll prior current earnings into retained earnings on your balance sheet report, at report time.

You can optionally enter your own year end adjustments to shift funds from the default retained earnings account into other equity or other types of accounts.

QB was set to close automatically and I didn't know it I did what you said and removed the date but it did not undo the close so all my accounts got moved to retained earnings how can i fix this?

There's nothing to fix.

As noted, this is just something that happens at report time. There are no actual closing transactions entered by QuickBooks.

RE: "QB was set to close automatically..."

There isn't a setting for this. The closing date and password setting is not related to what you see in reports. It just tries to restrict the user so they can't change older data, on or before the closing date.