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July 3, 2022
Question

Now that we’re at it end of financial year with what’s on QuickBooks does that get saved as a PDF and we all start again with the zero figures not sure what happens

  • July 3, 2022
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1 reply

July 3, 2022

Hello, Debbie. 

 

Managing year-end tasks can be a bit challenging, so I'm here to open up an overview on what happens to your QuickBooks financials at the end of the financial year. 

 

There won't be any PDF file that will be generated after the end of the financial year. Instead when a new financial year starts, QuickBooks Online automatically adds the net income from the previous financial year to your Balance Sheet as Retained Earnings.

 

You will still keep your previous transactions for tax filing and other tax-related tasks. 

 

If you've closed your books, all transactions from the previous financial year will be locked. Users (if you have them invited) won't be able to edit them unless they know the closing password. 

 

We do have a bunch of articles that helps you and other business owner on what to do at the end of the financial year: 

 

 

In case you need to file your GST and reconcile your books for the next period, we can take a look at these articles for a guide: 

 

 

Let me know if you have other concerns in managing your year-end tasks or transactions. If you need something done before closing your books, lay down the details below. I'm here to help.