Hi Kris102!
Thanks for joining this thread. Allow me to share some details about closing your books.
In QuickBooks Online, closing your books on a monthly basis won't close the entire year's data. The system uses the closing date you entered to prevent you from making any accidental changes before the closing date.
Additionally, you still have the option to edit your closed books if there's a need to make updates.
Also, you'll want to seek some advice from your accountant about closing your books to make sure your data is accurate. If you don't have one, consider subscribing to QuickBooks Live Bookkeeping.
Do you need financial reports? Check this link: QBO Reports.
Post again here if you have other questions. Take care!
