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Rion1
April 22, 2021
Question

Close book by month in QuickBooks Online

  • April 22, 2021
  • 1 reply
  • 0 views

I'd like to close my company's book by each month in QB Online.

(I know how to do the year-end closing.)

Is it possible?

 

1 reply

K
kkurwig
April 22, 2021

Hi,

 

It's possible. Go to the gear icon in the upper right corner, then select 'Account and Settings' in the left column.

Then click 'Advanced' in the right column.

At the top of the window you should see then this:

Accounting
First month of fiscal year 
First month of income tax year
Accounting method 
Close the books 
 
Make 'Close the books' active, select the date, and enter the password.
 
Best
Kat
    R
    Rion1Author
    April 22, 2021

    Thank you for your answer.
    I think the method that you told is a method of year-end, is there a method to close monthly?
    I input the numbers such as sales monthly and want to only prevent from changing the number.

     

    C
    ChristieAnn 11
    April 22, 2021

    Hi there, Rion1.

     

    I appreciate you for coming back to share additional information. I’d be glad to provide some details with you on how closing the books works in QuickBooks Online.

     

    QuickBooks Online (QBO) offers the option to Close the Books by finalizing financial statements for a specified period and then password protecting any changes to that information. That said, you'll have the option to change the closing date each month. Then, the process is the same as the method of the year-end closing date. Please make sure that you'll enter the correct or monthly date in the Closing date box.

     

    Closing your books monthly allows you to review the transactions recorded into the system to ensure they are accurate. This is also to make sure all the adjustments made properly reflect in the business’ activity for the month. It also prevents any accidental changes that could affect your financial reports.

     

    Please refer to this article to see steps on how you can track any changes made after you close your books: Edit your closed books.

     

    Keep me posted on how it goes. I'm just a reply away if you need further assistance with closing your books or any concerns with QuickBooks. Have a nice day!

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