Closing the Books

As we mentioned earlier in this chapter, one of the things QuickBooks does when it processes a VAT Return is to add a closing date to your file, which is the last date covered by the return. Here we explain how this works.

Let’s say you file your June–September 2011 VAT return. QuickBooks dutifully makes 30/09/2011 your new closing date. This means that only the QuickBooks administrator can add, edit, or delete a transaction dated prior to 30/09/2011. If you are logged in as the QuickBooks administrator, you will see a message like the one in Figure 11-9 when you attempt to add, delete, or modify a transaction dated prior to 30/09/2011. Simply click Yes to save the transaction or No if you change your mind.