Hi
When I used to use Quickbooks a few years back, there used to be an Accounting Yearend procedure checklist, both in the printed manual and in the built-in help system.
Looking at QB2005Pro now for a friend, I can't see any advice on Accounting Yearend procedures at all, not a mention.
Is there still a checklist available somewhere that I am failing to find? If not, can anybody advise? Do I need to enter yearend journals to adjust balances to match the Accountant's figures? If so, should these journals be entered into the last day of the previous year, or the first day of the current year? Should they be affect the Retained Earnings account or the Opening Bal Equity account (e.g. Debit Sales and Credit Retained Earnings?)
Any help or advice gratefully received
Ronaldo