QuickBooks Period End Tasks: The Accounting Side – Chpt.3

This brings us to the final chapter on QuickBooks period end tasks. What will be covered here is Long Term Debts, Audit Trail and Setting the Closing Date. Long Term Liabilities – If this type of liability was financed by a lending or banking institution, then at the end of each year, a statement from the lender should be reconciled to the Balance Sheet amount. Here one has to be cognizant...

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QuickBooks Quik Tip for the Day – Set Closing Date

I have another tip for people in senior accounting positions and especially owners. Far too many people are not aware of the problem that junior people can create by changing data entries in QuickBooks. This can result from voiding, deleting or changing a transaction that was entered in any fiscal period and particularly in a previous fiscal year. This can impact the integrity of your financial...

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