AMA: Ask our QuickBooks Experts Questions About Preparing for Year-End!

Hello everyone! My name is Mateo and I am excited to be here and help answer any questions you may have on Preparing for Year-End. Let's make the most of these next 4 hours!! 

Good morning, everyone! I’m so excited to talk through year end questions with everyone. Remember, there’s no such thing as a stupid question!! :)

So this is just a question forum, not a training session?

Hello Nancy! Correct we are answering any questions you may have about year-end. We are not doing a webinar but we do have webinars available, I can provide you a link that shows all the upcoming webinars, for example one starts in about 20 minutes and they will go through:

Learn how to:

• Connect your bank to cut down on data entry
• Find your way around
• Use QuickBooks on your phone
• Enter and track expenses
• Choose the right method for recording sales

Here is the link: https://quickbooks.intuit.com/learn-support/webinars-and-events/get-started-fly-through-setup-and-ge...

Also here is the link for a list of future webinars: https://quickbooks.intuit.com/learn-support/webinars-and-events/eb-p/events-us

We have had a few questions come in from other channels, so I will ask them here and we will make sure to circle back with the answers to the original posters.

First question: How do I create a report that shows how much I paid to each vendor? And why is this vendor showing below the threshold on the report when I know I paid them about $1000 this year

2nd question that came in from our Social channels:

I was trying to log in today and keep getting a message that my username or password is incorrect. How can I verify my username and reset my password in QBO?

Another question from a direct message:

I was told I need to "close my books" but what does that mean in QBO and how do I do it?  Does it mean I won't have access to prior data once I do?  

The report that I think would be best for this is the "Transaction List by Vendor" this will show you the totals by Vendor to verify. 

Check the dates on the report and also check the dates on the transactions for the vendor and make sure that its set to 2021. 

Additionally I would review that vendors settings to make sure they are set to 1099. Here is a great link that goes over these issues: https://quickbooks.intuit.com/learn-support/en-us/1099-misc-payroll-forms/vendor-missing-from-1099-s...

You may be logging in with the wrong username. Sometimes the email is not the username and therefore you will get that message. You should see an option for "Forgot User ID or Password" this should get an email sent with a verification code and then it will give you a list of all your usernames associated with your email. 

Closing your books will prevent unwanted changes to your accounting data prior to your closing date. This is such an important step as it is just too easy for you to accidentally change something that affects a prior period. You will still have access to prior data but if you want to make a change you would need to enter a password you set for any changes. 

Here is a great article on closing your books: https://quickbooks.intuit.com/learn-support/global/customer-company-settings/close-your-books-to-loc...