12: Setting A Closing Date In QuickBooks Desktop And QuickBooks Online Prevents Accidental Bookkeeping Entries In A Prior Period
When you are a small business owner or bookkeeper recording transactions in QuickBooks Desktop or QuickBooks Online, it can be very easy to accidentally enter the wrong date…especially if you are recording a lot of transactions from the past or catching up on your bookkeeping. To make sure you don’t record any entries in a period that has already been closed, be sure to follow these steps to maintain the accuracy of your previously prepared financial statements. This is a tip I tell my clients about and many of them didn’t know this was available. They absolutely love it and it prevents them from entering incorrect dates. You don’t want to be entering a date in an incorrect period…especially if the tax return for that entity has already been filed for that time frame. Grab a notebook and listen in, I’m giving you all the details on setting a closing date in QuickBooks Desktop and QuickBooks Online…
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