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Closing of accounts at the end of a period

Posted by moazam 
Dear sir,
i hope you will be fine. As its rule in quickbooks, you have to close all accounts before moving to next accounting period. Please tell me how to close accounts at the end of an accounting period in quickbooks.

Re: Closing of accounts at the end of a period
May 21, 2013 01:59PM
Hello Moazam

Go to Edit / Preference / Accounting / Company Preference

You will see an option at the bottom - Closing Date. Click on the Button that says "Set Date/Password"
open balance equity
September 05, 2013 11:04PM
My name is Tommy, My question is how to enter beginning balances from balance sheet when we start QuickBooks. Balance sheet contain cash ,A/R, inventory value, .fixed assets. Then it contain A/P which contain total of unpaid bills from last year and other liabilities
Re: open balance equity
September 06, 2013 07:29PM
Hello Tom,

One way is to do Journal Entries.

Under Company/Make General Journal Entries.

You will most likely DEBIT - Opening Balance Equity

And you will CREDIT - which ever other account you are working on.

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