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Replying to:
Michelle_b
QuickBooks Team
QuickBooks Team
‎February 26, 2020 12:38 PM

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Yes, it is possible to close your books, @Sweetunda.

 

Thank you for joining us here in the Community. I'll be more than happy to help walk you through the steps on how to close your books in QuickBooks Online. 

 

To close the books, it requires a master admin or company admin access. Please make sure to review any outstanding invoices, expenses, and payments. Also, you'll have to reconcile your accounts. This ensures everything is accurate before performing the steps below. 

 

  1. Go to the Gear icon ⚙ on the upper right side. 
  2. Select Account and Settings. 
  3. Choose Advance, then click the Edit button in the Accounting section.
  4. Put a checkmark in the Close the books box.
  5. Pick a closing date on the calendar. 
  6. Click the drop-down arrow below the date and choose either of the two. 
  • Allow changes after viewing a warning and entering a password- if you want to require a password before editing the closed books.
  • Allow changes after viewing a warning- without a password when editing the books. 

close.PNG

      7. Hit Save and close. 

 

Your company name represents your brand. It appears in your sales form and purchase order. With this, I suggest consulting your accounting. They can determine the proper company name you'll need to use for each financial year. Once verified, proceed with the steps below.

 

  1. Go to the Settings ⚙, then choose Account and Settings. 
  2. Click Company located on the upper left pane. 
  3. Hit the Pencil icon beside the Company name. 
  4. Modify the name and tap Save. 
  5. Click Done. 

For more information about changing company information, please visit this article: Change your business name, contact info, or EIN in QuickBooks Online.

 

Please check out this article: Edit your closed books. This link guides you on how to change your closing date and password you use to lock the books. Also, you'll learn more about how to access reports to see any changes made after you close the books.

 

Feel free to leave a comment by clicking the Reply button below if you have follow-up questions. I'm always here to help. 

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