Can I keep two years accounting records open at the same time? With 2 yrs of transactions to input, I need to go back and forth between the accounting yrs, any ideas?

Hello there, Gina.

You can absolutely input transactions for different years without any restrictions in QuickBooks Online (QBO). There’s no need to open or close a specific year, as you can freely work across multiple accounting periods to catch up on your data.

One key thing to keep in mind is to ensure the transaction dates are accurate for each year. These dates determine which accounting period the transactions will appear in, and this ensures your reports, such as the Profit & Loss or Balance Sheet, reflect the correct data.

Feel free to jump back and forth between years to post your transactions, as long as you’re mindful of the transaction dates for proper reporting.

If you need further assistance, please don’t hesitate to reach out to us again. We’re always here to help.