Can we open and close each of the 12 fiscal months contained within a fiscal year? This concept is available in ERP systems. We are using Quickbooks Online.

Hi there, 

Running a business is a lot of hard work, and choosing QuickBooks Online to help you manage your bookkeeping is a great choice! You'll save tons of time by taking advantage of all the convenience of an online program. Closing the books to a fiscal period is so important for your organization. I'd be happy to explain how this would work in QBO.

The Close the Books feature is available in all levels of QuickBooks Online, and works to lock past transactions to avoid errors in your reconciliation. You can choose to close your books monthly if you wish. 

Here's an article that will guide you through the process of closing your books in QBO: Close your books to lock past transactions. 

Here are the steps provided in the article: 

1. Go to Settings ⚙ and then select Accounts and Settings.
2. Select the Advanced tab.
3. Select Edit ✎ in the Accounting section.
4. Select the Close the books checkbox.
5. Enter a closing date. Give yourself a comfortable deadline. You shouldn't need to edit any transactions before this date. Your new bookkeeping work will start after this point.
6. Select the Allow changes after viewing a warning and entering a password option from the drop-down menu if you want to require a password before editing your closed books.
7. Select Save and then Done.

That's all there is to it. I hope this helps get you on the right track. If you have any other questions, please don't hesitate to reach out to our tech support team.

Have a great day!