Close the book for 2020

Glad to have you here in the Community, @Sunny93117.

I'm here to help you delete transactions in QuickBooks Online (QBO).

The system will ask you to enter a password when deleting transactions if the books are already closed. I suggest using the closing date password, not the one you used when logging into your QuickBooks account.

If you don't know the closing date password, I'd recommend resetting it so you can enter a new one. Make sure you're the master or company admin in your QBO account.

To reset the password, here's how:

1. Log in your to QBO account as master admin or company admin.
2. Go to the Gear icon, and then choose Accounts and Settings.
3. Go to the Advanced tab.
4. Choose the pencil icon in the Accounting section.
5. Put a checkmark in the Close the books box.
6. Change the closing date.
7. Choose Allow changes after viewing a warning and entering password from the drop-down arrow.
8. Enter a new password and confirm it to change your password.
9. Click Save and close.

Once done, you can start deleting transactions and enter the new password.

For additional information in resetting the closing date password, you can refer to this article: Edit your closed books. This also contains steps on how to check if there are changes made after you close your books.

Here are the following articles to learn more about closing books and retained earnings in QuickBooks:

• How to view Retained Earnings account details
• Close the books

Please know that you're always welcome to post if you have any other concerns. Wishing you and your business continued success.

Hi, @Sunny93117.

Hope you’re doing great. I wanted to see how everything is going about deleting transactions from close books you had the other day. Was it resolved? Do you need any additional help or clarification? If you do, just let me know. I’d be happy to help you at any time.

Looking forward to your reply. Have a pleasant day ahead!

Thank you for your response. I went to change the closing date but it's not allowing me. I do not need to delete info, I actually need to revised the invoice to increase sales tax. Si when I go to change closing date there is not drop down menu or any other option. It looks like that they remove it.