In this article, we’ll delve into the process of performing a month-end close in QuickBooks, a critical task for maintaining accurate financial records and ensuring the smooth operation of your business. Month-end close involves finalizing financial transactions for the month and preparing for the next accounting period. Now, let’s walk through the steps to close your books effectively:
- Go to the Gear icon and select Company Settings.
- Choose Advanced.
- In the Accounting section, click on the Edit icon.
- Check the box labeled Close the books.
- Enter a closing date. Transactions dated on or before the closing date cannot be changed without warning.
- Decide how you want to handle transactions dated prior to the closing date:
Allow changes after viewing a warning.
Require a password for changes after viewing a warning
Click Save, then Done.
Following these steps will help ensure that your financial records are accurate and up-to-date, providing you with valuable insights into your business’s performance.
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