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What a delight to have you here, khaled.
When you're ready, you can close your entries in QuickBooks to prevent unwanted changes before filing your taxes. By locking your books, no one can edit your accounting data before the closing date.
To do the process in your QBO account, you'll want to review your accounts first. Then carry out the actions listed below:
You can also review the following guides to help change your closing date and complete year-end tasks in QBO:
Don't hesitate to ping me if you have further questions about closing your entries in QuickBooks. I'll be glad to help you again. Take care, and enjoy your day!
Hey there, @jlougee.
I'm aware that closing the books is a critical step in maintaining accurate financial records. I'm here to assist you in achieving that goal.
Closing the books in QuickBooks Online is only available to users with the primary or company role. If you don't have the necessary permissions to perform this action, it's possible that your user role doesn't allow it. To verify your access, you can follow these steps:
If you're the company administrator but don't have the option, we can perform some troubleshooting steps to identify the issue. You may have accumulated too much historical data. Whenever you visit a website, it saves some information from the web page in its cache and cookies. These files allow the websites you visit most often to load faster. Not to worry, clearing them will do the trick.
First, let's try accessing your account through an incognito window to rule out the possibility of a webpage issue. You can refer to these shortcut keys to open an incognito window in all supported browsers:
If the switch button appears, switch back to your regular browser. Then, clear its cache. This way, you can access QuickBooks with a clean slate. You can also use a different supported one.
I've also included these articles to learn more about how to manage user profiles:
Please let me know if you have any other questions about locking your books. I'm always available to assist you. Have a great day!
What the other person was asking is how do you post closing ENTRIES. Preventing changes to prior periods is not the same as posting closing entries. How do you run year end or month end close to close our revenue and expense to retained earnings??
Thanks for your clarifying, @flg2. I'll provide additional information about posting closing entries in QuickBooks Online (QBO).
When posting closing books in QBO, you can create a journal entry. Since we cannot suggest which accounts to use, please contact your accountant for advice.
Furthermore, to check the year/month end close data in closing revenue and expense, refer to this guide for more detailed information: Year-end guide for QuickBooks Online.
In addition, if you wish to see the total of your company's income and expenses from previous years, check this help article for more details: View Retained Earnings account details in QuickBooks Online.
If you need further guidance on posting closing entries or running a year/ month end close data in QuickBooks, feel free to add a comment below. Our team is always ready to assist you. Have a good one.
It's glad to hear we provided the answers you're looking for, flg2.
Please know that you can get back on this thread by clicking the Reply button if you need additional assistance closing your books and running reports. My team and I are always ready to help you out.
Moreover, I've added our View All Help article for future reference. From there, you can search for helpful topics to assist you in completing your QuickBooks Online tasks and keeping your books accurate.
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