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amer4
Level 1

Did the system automatically closing end year balance or we need to close it manually

 
1 Comment 1
GlinetteC
Moderator

Did the system automatically closing end year balance or we need to close it manually

No, you'll be the one to close your financial data, amer4.

 

Closing your books assures that everything stays as it should be. Additionally, it prevents any unintended adjustments from affecting your financial records. 

 

Let me guide you through how to close the books in QuickBooks Online:

 

  1. Go to the Gear icon and select Accounts and settings.
  2. Choose the Advanced tab.
  3. Select Edit ✎ in the Accounting section.
  4. Turn on the Close the books switch.
  5. Enter a closing date. 
  6. Select the Allow changes after viewing a warning and entering a password option from the dropdown menu if you want to require a password before editing your closed books.
  7. Select Save and then Done.

 

Check the close your books in QuickBooks Online to learn more information.

 

I'm also sharing these resources that contain details on how to edit a closing date and a guide on completing year-end-tasks:

 

 

Please let me know if you have any other concerns or questions about closing books. I'm always willing to assist.