Procedure for closing a fiscal year

I've got some steps we can perform to close the fiscal year on your account, scland627. 

Closing your books ensures everything stays the way you want it to. It prevents any accidental changes that could affect your financial reports. We'll need to review your accounts first before closing your book. Here's how:

1. Log in to QuickBooks Online (QBO) as a primary or company admin.
2. Review your accounts and make sure everything looks good.
3. Enter any outstanding invoices, expenses, and payments.
4. Reconcile your accounts up to your closing date.
5. Review your inventory quantities.

Once done, follow the steps below to close your books: 

1. Go to the Gear icon on the top menu. 
2. Select Accounts and Settings.
3. Tap the Advanced tab.
4. Click Edit in the Accounting section.
5. Select the Close the books checkbox.
6. Enter a closing date. Give yourself a comfortable deadline. You shouldn't need to edit any transactions before this date. Your new bookkeeping work will start after this point.
7. Select the Allow changes after viewing a warning and entering a password option from the drop-down menu if you want to require a password before editing your closed books.
8. Press Save and then Done.

Feel free to browse this link here if you need help with other tasks in QuickBooks Online. It'll route you to our general topics with articles. 

Drop a comment below if you have follow-up questions or concerns about closing your books. I'm more than happy to assist you. Take care and have a wonderful day ahead.