Hosted QuickBooks Tip of the Week: Setting a Closing Date in QuickBooks
Have you ever wanted to lock prior periods in QuickBooks? Intuit recommends that you close or lock your year ending date. Some companies even lock or close periods after they reconcile their bank accounts.
Here's how to close the books through a certain date or or lock a period:
- Switch to single-user mode
- Go to Edit>Preferences and then click the Accounting tab
- Click on the Company Preferences tab
- Then click on Set Date/Password
- Select the closing date and select a password. Then hit OK.
Please tune in to next week’s QuickBooks tip.