Wondering how to prevent prior-period changes in your business transactions? Get in touch with the QuickBooks Support.
It is a common QuickBooks error that users make changes to the transactions in prior periods. They are not aware of the results that these changes may lead to. But, you can lock your data to prevent users from making prior-period transactions. In accounting, the term given to this practice is “soft close”. This means that a person with the security rights (the Admin user) can return and “unlock” the accounting period to add or modify a transaction in a prior period. Contacting QuickBooks Support may help you to understand more.
Talking more precisely, users record, modify, void and delete transactions in prior period for which tax returns have already been prepared and filed. To prevent these unauthorized prior changes or entries, you have to set a closing date and a unique user-name & password for each user. Set preferences for each user to stop them from escaping the closing date. Get QuickBooks Support if having difficulty in setting user’s specific access.
Steps To Set A QuickBooks Closing Date-
To set the closing date and assigning a unique user-name and password to the specific users (other than the Admin Password [optional]), follow the gives steps-
- To start, you have to log in to the data file as the Admin.
- Thereafter click Company and select Set Closing Dateoption and Accounting, Company Preferences dialog will appear.
- Now click on Set Date/Password option to open Set Closing Date and Password dialog.
- Provide a closing date in the respective box and password (optional). It is suggested to discuss this date with your accountant.
- Confirm the closing date and optional password by clicking
You may give user-specific rights to the particular users who need to make prior period changes to a transaction. You may also want to create Closing Date Exception report, which helps you to see who made the changes or which particular transaction were added or modified. The successful completion of these steps, you can prevent or authorized a user to make changes to a transaction. But if you still have any kind of unease in performing these steps, contact a QuickBooks Support phone number.
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The accounting software of QuickBooks is double entry simple accounting software that has been specifically been designed and developed for the needs of the small businessmen and accountants. You needn’t have any accounting knowledge to use this software.
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