Closing your accounting year is a necessary function even for QuickBooks users. Although not forced like many accounting programs, QuickBooks allows you to secure your accounting data and preserve your records. This methodology can be used more frequently, but is necessary at least once per year to retain reliable accounting data.
1. Closing the Year in QuickBooks ® Making Journal Entries and Setting the Closing Date
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6. The Trial Balance This may not be a familiar report to you, but your accountant uses it to review all your account balances. They most likely have already compiled one in order to prepare your company’s taxes or financial statements.
17. Make Journal Entries You don’t have to know debits & credits, just follow the report!
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22. Setting the Closing Date Review all user settings NO user should have this permission, but anyone you have selected “All areas” will have this permission.