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RD, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 8784
Experience:  MBA, CPA
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how do i close my fiscal year in quickbooks

Customer Question

how i close my fiscal year in quickbooks where i have to go in the program
Submitted: 11 years ago.
Category: Finance
Expert:  RD replied 11 years ago.
Unlike many accounting systems, QuickBooks does not require you to close your books at the end of an accounting period. Because QuickBooks does not formally close out any accounting period, you can always enter transactions for any time period.

To close your books, change your close date, or set a closing date password:
Setting a closing date at year-end is the same as at any other time. If you already have a closing date set for prior periods, you should update the date.

You must be in single-user mode.

From the Edit menu, choose Preferences.

In the Preferences window, select Accounting.

On the Company Preferences tab, enter the date through which you want your books to be closed.

(Optional, but recommended) Create password XXXXX limit access to the closed accounting period:

Click Set Password.
Enter the new password XXXXX both the New Password XXXXX Confirm New Password XXXXX
Click OK.
Click OK.

Let me know if you have any question.