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Closing the books quarterly

In QuickBooks is there a way to prohibit posting to a prior quarter?  If I change the closing date in preferences every quarter would QuickBooks make an automatic closing entry to retained earnings?  We wouldn't want that.

We just want to keep prior months that have been reconciled, and commissions paid off of those month's productivity inaccessible for posting.

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Moderator

Re: Closing the books quarterly

Sending good vibes to you, AccountingGF.

I can share some information concerning closing your books in QuickBooks Desktop.

 

Closing of books through the QuickBooks Preferences only protects the transactions from being edited or deleted. QuickBooks Desktop does not require a close books as part of year-end procedures. However, it allows you to limit access to a closed accounting period by setting up a closing date and closing date password.

 

To set a closing date password:

 

  1. From the Edit menu, select Preferences then Accounting.
  2. Under Company Preferences, select Set Date/Password.
  3. (Optional) Choose your closing date and set your closing date password.
  4. Select OK to close the Set Closing Date and Password window.
  5. Select OK to close the Preferences window. Note: To remove the closing date password, log in as the admin and remove the encrypted password on the Set Closing Date and Password screen.

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To know more about closing books in QuickBooks Desktop, check out this article: https://quickbooks.intuit.com/learn-support/en-us/expense-accounts/close-your-books-in-quickbooks-de....

 

For additional help, you can also reach out to our QuickBooks Desktop Support.

 

  1. Within your QuickBooks Desktop, click Help at the top menu bar.
  2. Click Contact us.
  3. To route you to the correct support expert, we need to know what type of question you have. Give a brief description of your issue and click Continue.
  4. We’ll provide you a few options. You choose which one is best for you.

If you need further information concerning closing of books, don't hesitate to ping me out. Have a good one.