QuickBooks makes it easy to close your books at the end of the year. The steps you take to close out your books will depend on what version of the software you are using. If you’re using QuickBooks Desktop, you can close the books by opening the Edit tab and selecting Preferences. Under the Accounting menu, select the Company Preferences tab. From this menu, you can now set your closing date and password.
If you’re using QuickBooks Online, you can close your books through the Settings menu. Under the Advanced tab, choose the option to Edit under the Accounting section. Mark the “Close the Books” box, set a date for locking the transactions, and select a password for future changes. Click Save, and you’ve closed your books in QuickBooks Online.