Can you close a period

Yes, you can also close periods in QuickBooks Online (QBO), @Avelyn. I'll gladly guide you how.

Closing your books prevents unwanted changes that could affect your financial reports. Doing so will make sure no one can edit your accounting data. To do this, you'll first have to review your accounts and make sure everything looks good. Then whenever you're ready to close your books, follow these steps:

1. Go to Settings ⚙ and then select Accounts and settings.
2. Select the Advanced tab.
3. Select Edit ✎ in the Accounting section.
4. Turn on the Close the books switch.
5. 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.
6. Select the Allow changes after viewing a warning and entering a password option from the dropdown menu if you want to require a password before editing your closed books.
7. Click Save and then Done.

Once you're done, go ahead and review your closed books. For the step-by-step guide, you can refer to this article: Close your books in QuickBooks Online.

Also, you may want to check out this art6icle as your reference to guide you in completing certain tasks to prepare for the new year in QBO: QuickBooks Online year-end guide and checklist.

Please feel free to leave a comment below if you have other concerns about closing books in QBO. I'm always ready to help. Take care, @Avelyn.