How to close prior months in QuickBooks

One of the most powerful and popular features in QuickBooks is the ability to modify & delete existing transactions, as well as create new transactions at any time. Although this functionality is very attractive to most regular users, Accountants are typically worried about it. To mitigate any issues with your Accountant, who would not like any previous period modifications, the QuickBooks system allows you to close prior fiscal periods. This setting allows you to prevent an average user from creating new transactions or modifying or deleting previous transactions without a special password. To activate- use the ACCOUNTING – COMPANY PREFERENCES tab to specify the date and the password.

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