Monthly close

Good afternoon, @Deadwood Al. 

It's great to see you back in the Community! 

I can see how beneficial this could be for you and your business. However, there isn't an option to close your books every month only annually. 

Check out this guide for additional details about closing your books within QuickBooks Desktop. 

Moreover, I'll make sure to submit your feedback to our Product Developers so they can consider adding this as a feature in the near future. 

I hope this helps answer your questions. I'm only a post away if you need me. Take care! 

Can't say that I'm totally surprised by this, but it IS a major failing from Intuit / QB. Every software system I've worked with has the ability to lock a fiscal period (month) to prevent unauthorized people from inadvertently (or intentionally!) making entries into a prior period.  I did send a scathing feedback to QB. I guess not surprising since all (or nearly all) of the design crew must never have worked in the real world where closing a period was common and an expected function of the system in use.

So users ... not "team members" who have never worked in the real world ... does anyone have any workarounds that they use to attempt to prevent unauthorized prior impacts?

So another example of QuickBooks Team not knowing the right answer? If we do close a month as you describe, is QuickBooks making closing entries every month like their documentation happens, or is that driven by a change in the year?

Thank you for responding.

@Deadwood Al 

The only closing entry that QB makes is to close net income to retained earnings at your fiscal year-end.  It makes no month-end entries.  

Just because QB sometimes makes decisions that are different from the way I think, I have to ask this ....

If I were to close August 2024, I assume that would close every month prior to August as well, yes?

That might sound obvious, but .....

Got it. Thanks. 

Can you keep open PO's open after closing the month ?  If so, how ?  When I set the closing date, it closes everything and then we have to change the PO date to the new month to keep it open.

Am I missing something ?