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April 24, 2019
Question

Can invoices be entered in a new year before closing off the previous year?

  • April 24, 2019
  • 1 reply
  • 2 views
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1 reply

AddieC
Level 5
April 24, 2019

Hi there, 

 

Thanks for posting your question in the Community. I'll help you clear this up. 

 

Yes, you can enter invoices in a new year before closing off the previous year. All you have to do is ensure that there will be no conflict between accounts, for example for tax purposes and bank balances. 

 

Keep in mind that this is pertaining to sales. There shouldn't be a problem, as you'll likely receive the payment after the year end.  If it's an expense, you may have a conflict if it was paid from the bank before year end. I recommend consulting with your accountant on how best to avoid these discrepancies. If you're not already connected to an accountant, you can find one in your area here: https://quickbooks.intuit.com/ca/find-an-accountant/.

 

Let me know if you've got any other questions.

 

Have a great day!