What happens when I closed the book in QuickBooks?

QuickBooks Help QuestionsWhat happens when I closed the book in QuickBooks?
Mike asked 3 years ago

What happens when I closed the book in QuickBooks? The values of income and expenses disappear or what, hope not.

admin Staff replied 3 years ago

When you “Close the books” from Accounting Setting* in QBO, it just prevents anyone making changes (or delete) to the file without proper password authorization. It will not wipe out previous years financial data. You will still be able to see prior years financial records which you can’t close in QBO.

* Gear (⚙) icon at the top right corner > Your Company > Account and Settings > Advanced > Accounting > Close the books.

Close the books in QBO



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