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burnview27
February 26, 2020
Question

entries made to the books after closing

  • February 26, 2020
  • 1 reply
  • 0 views

Our year end was 2018. The net income that reported in the financial statement after audit got changed.  Someone had posted entries after the fiscal year was closed. How can we trace the difference quickly without going through each entries.

1 reply

A
AndréB12
February 26, 2020

Hey burnview27,

 

Closing your books is a vital step in limiting changes after the end of your fiscal period. QuickBooks streamlines this process, but is built with a focus on giving you control over your own financials. As multiple people can work on the same file, there's always a risk of unwanted changes. Thankfully, we can easily get visibility over these, and I'm here to show you how.

 

QuickBooks Desktop has a report for this specific purpose. Since you seem to know your way around, I'm confident you'll have no problem correcting the transactions. It's just a few easy steps to see what they were: 

  1. Select Reports from your top menu.
  2. In the Accountant and Taxes section, select Closing Date Exception Report. 

This report shows all transactions dated within a closed period that were changed after the fact. It's a quick and painless way to get to the bottom of situations like this.

 

Let me know how this goes! I've got your back if you have any other questions.

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