QB Issue Resolution:
Let me share some information about reversing a prior year journal entry of your closed books in QuickBooks.
The accounts entered in the journal entry will influence if you modify a transaction from closed periods and could also affect previous financial reports. To make sure you’re able to modify a journal entry, you can reopen your books and clear the current closing date.
Let me show you how:
- Go to Edit and choose Preferences.
- Select Accounting and choose Company Preferences.
- In the Closing Date section, click on the Set/Date Password button.
- Delete the date shown in the Closing Date field.
- Click on OK.
This gives anyone with the proper permissions full access to transactions entered on or before the closing date. You can also see the history of your closing date changes in the Closing Date Exceptions report in QuickBooks.
I’ve added some articles for your reference about closing books in QuickBooks Desktop:
From there, you should be able to modify a journal entry in QuickBooks.
Resolution for Issue 'reversing prior year journal entries after closing the book?' available: Yes (Solved).
Source: Intuit Community forum.
reversing prior year journal entries after closing the book?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for Company Preferences
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