Help with closing
US QuickBooks Premier : 2012: Accountant
I am closing the 2011 books. Do I create the temp accounts? or they are already in QBs.
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bdtqh4u1Gr4yUOacwZ5xHE
02/09/12 11:57am PST
Viewed by asker 02/10/12 12:50pm PST
Viewed by asker 02/10/12 12:50pm PST
3 Replies
Rustler
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02/10/12 4:00am PST
QB automatically clsoes expenses and income to equity if a sole-P or to retained earnings for other kinds of business, all you have to do is roll up equity investment, drawing and retained earnings if there
See this for more on Owners Equity accounts and distributions (rolling it up)
If I've helped, mark it solved.
My QB tips Blog >> http://onsale-apparel.com/Rust...
When the majority, who cannot think for themselves, overwhelm the minority who can, you get ... convention.
My QB tips Blog >> http://onsale-apparel.com/Rust...
When the majority, who cannot think for themselves, overwhelm the minority who can, you get ... convention.
02/10/12 5:07am PST
@Rustler....don't know if I have told you this but....love.your.blog......!
