How To Set a Closing Date Inside QuickBooks

by | May 13, 2026 | QuickBooks Desktop

Have you ever accidentally entered transactions from a prior period of time after you filed your taxes and then realized, “Oh no, I messed up my reports!”? đŸ„Ž

In this video, you will learn how to set a closing date that will keep you from accidentally modifying data or entering in a previous period of time that you’ve already filed and don’t want to make accidental changes to.

Adding a password helps you not enter data in a “closed timeframe.”

If you’re looking for the Online version of this video, click here.

Steps to Creating a Closing Date:

  • Go up to “Company”
  • “Set Closing Date…”
  • “Accounting”
  • Under “Company Preferences” Tab
  • “Set Date/Password”
  • “Add Closing Date and Password” screen will show
  • Checkmark “Exclude estimates, sales orders and purchase orders from closing date restrictions”
  • Choose “Closing Date”
  • Enter “Closing Date Password”
  • “Confirm Password”
  • Click “OK”
  • Choose “OK” again

 

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Share with us in the comments below – are you going to set up a ‘closing date‘ to keep from having mistakes?👇

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16 Comments

  1. Esther Ms. Williams
    Esther Ms. Williams on May 22, 2025 at 4:44 pm

    Great tip Candus, thank you so much!

    Reply
    • Robyn Team Candus
      Robyn Team Candus on May 23, 2025 at 11:22 am

      Hi Esther,
      Thank you for reaching out.
      We’re glad you found the tip helpful 😊
      Thanks for being a part of our community!
      Have a great day,
      Robyn, Team Candus

      Reply
  2. Mari Hupp
    Mari Hupp on May 15, 2024 at 8:55 am

    How do you handle the following?
    Our day to day work is on Accrual.
    Our year end is Cash.
    Our Accountant uses Contra Accounts.
    Makes doing our monthly Reconciliations very hard, and if and when they reverse the Contra’s in the beginning of our year than our P&L is distorted.

    Reply
    • Samantha - Team Candus
      Samantha - Team Candus on May 16, 2024 at 4:04 pm

      Hi Mari,
      Thank you for reaching out.
      QuickBooks tracks both Cash and Accrual. I would use the software to give you reports based on either tracking Cash or Accrual.
      If you’d like to learn more about how to optimize QuickBooks for your business, I recommend
      checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here:
      https://CandusKampfer.com/workshop
      Have a great day,
      Samantha, Team Candus

      Reply
  3. Sherri G Williams
    Sherri G Williams on June 11, 2021 at 9:02 am

    Great tip! Thank you!

    Reply
  4. JESSICA
    JESSICA on June 9, 2021 at 9:22 am

    THANK YOU !

    Reply
  5. Karen Simpson
    Karen Simpson on June 5, 2021 at 7:36 am

    I love this , so simple and right to the point. Thank you so much

    Reply
  6. Karen Simpson
    Karen Simpson on June 5, 2021 at 7:35 am

    I love this , so simple and right to the point. Thank you

    Reply
  7. Joanna Taylor-Milligan
    Joanna Taylor-Milligan on June 4, 2021 at 1:30 pm

    Hi Candus. My last accountant put a password protect on my quickbooks last fiscal year end. I’ve let her go and recently hired a new accountant- (one who is fluent in quickbooks, my old one was not).
    I would like to change the password. Is there a way to do it when only she knew what it was, or do I have to contact her? Thanks

    Reply
    • McKenzie - Team Candus
      McKenzie - Team Candus on June 10, 2021 at 10:09 am

      Hi Joanna,

      Thank you for reaching out! While I’d love to help, I have no way to do so. I recommend either reaching out to your previous accountant or reaching out to Inuit directly.

      I hope this helps 🙂
      McKenzie
      Team Candus

      Reply
  8. Dinos
    Dinos on July 9, 2020 at 11:13 pm

    Excellent video, right to the point!

    Reply
    • Candus
      Candus on July 19, 2020 at 3:50 pm

      Thank you!

      Reply
  9. Carmen Vazquez-Alonso
    Carmen Vazquez-Alonso on July 9, 2020 at 6:24 pm

    Hello Candus,

    How is the process to set up closing dates in QB Online.

    Thank you
    Carmen

    Reply
  10. Noeline
    Noeline on July 9, 2020 at 6:13 pm

    Thank you Candus,

    This was very good, and surprisingly easy.

    I ran in this password issues placed by someone else. Now I know how to place my Protected password .

    Reply
  11. Twyler Webster
    Twyler Webster on July 9, 2020 at 12:53 pm

    I have deleted transaction and I’m not able to reconcile.
    It was a bank charge

    Reply

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