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Sweetunda
Level 2

Closing the books in a way that sets balance sheet accounts to zero.

I run QBO International version in Kenya. My accountant has advised me to close the 2019 books by shutting down the accounts and reopening under a new name, so Company A becomes Company A 2020 and so on year on year.  This way my balance sheet accounts start the year at zero. Is this possible on this version of QBO, and if so, how? Thanks in advance!