Year end routines (closing/opening books)

[Gil121438 0]

I just purchased "express accounts" and need to know how you close the books at the end of the year and open the accounts for the new year

Gil121438

[diquijada 0]

I have the same question, can someone reply please and thank you.

[Wayne McNeil 0]

On 6/27/2018 at 9:58 PM, Gil121438 said:

I just purchased "express accounts" and need to know how you close the books at the end of the year and open the accounts for the new year

Gil121438

I think before you can close of any account for year end it should be done through a general journal transaction.  Expense accounts will be required a credit amount and then apply the dr amount to balance it to where ever it needs to go.