cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Level 1

Does the end of the year closing of the books wipe your slat clean for the next year?

 
1 Comment
Highlighted
Community Champion

Does the end of the year closing of the books wipe your slat clean for the next year?

Nope, not even your slate.

 

QB is perpetual recordkeeping and everything is date related. Profit (or loss) will post to retained earnings but even your changes in equity have to be zeroed manually on day 1 of next year.

Need to get in touch?

Contact us