Su Brown and Associates, PLLC

  Certified Public Accountants

   77 Southway, Suite B,  P.O. Box 1454,  Lewiston, Idaho  83501

Telephone

208-743-7790

Fax

208-743-7363

QuickBooks Tip

Tip for New Year

Now that a new year has begun, we have to remember to enter the date on our transactions correctly.  Have you ever accidentally entered a transaction for this year with last year's date?  This can really mess up the Balance Sheet and Profit and Loss.

Don't

forget to

backup your data.

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Here's what you should do.  From the Edit menu, choose Preferences.  In the Preferences window, select Accounting.  On the Company Preferences tab, enter the date through which you want your books to

be closed.  Once you have done this, QuickBooks will prompt you if you go before this date.  You may also want to create a password to limit access to the closed accounting period, especially if there are multiple users in QuickBooks.  On the same preferences screen, click Set Password.  Enter the new password in both the New Password and Confirm New Password fields.  Click Ok.  Click Ok again to save the preferences.

Note:  Some older versions of QuickBooks do not have this option under Preferences.   In this case, go to File, Set Up Users and Passwords, then Set Up Users.  Click Cancel. A user list will be shown.  At the bottom of this window is a tab that says Closing Date. Click this tab and put in the date.

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