Quick Books - 13 accounting periods

Quick Books - 13 accounting periods

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Most reports can be selected on date range but what about clearing and closing the old accounting year gievn that accounting date will vary each year end? Has anyone tried to use QB in this way, please?
Michael Eaton

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By mikeopolo
14th Oct 2004 18:13

QB designed around months
Quickbooks is designed around monthly accounting, for example the accounting year is specified as ending in a month, meaning a month-end.

If that month-end is changed, QB assumes that change to apply to all possible reporting years in the file, not just the current year, so comparative reports won't work for your business.

You can drive some financial statement reporting with custom dates, and memorise reports accordingly. All the other date options (this month, quarter, year etc.) won't help you. Column splits in these reports are only available for whole months.

You'll also have problems with receivables and payables ageing, possibly, which default to 30/60/90 days.

Regards

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