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Books Closed setting

In accounting software, a books closed date can be set so that no transactions can be changed prior to that date. This ensures the integrity of financial reporting. Once numbers are reported for a certain time period, you don’t want anything to change in your books.

A books closed setting is also available in Bill.com. This feature will be rolled out slowly to our customers while it is in Beta.

 

If syncing with accounting software

If syncing with QuickBooks for Windows, QuickBooks Online, Xero or Intacct, if a Books Closed date has been set in the accounting software, this date will sync into Bill.com. This feature is coming soon for NetSuite.

However, this date can still be manually set or edited within Bill.com.

  • If the Books Closed date in Bill.com does not match what is in the accounting software, the books closed date in Bill.com is the master when creating or editing transactions in Bill.com.
  • If set manually, the books closed date will not sync to the accounting software
  • If using QuickBooks for Windows, the sync dashboard will need to be upgraded to our latest version v_2.0.8250.9

 

Manually setting the Books Closed date in Bill.com

To manually set the books closed date, an Administrator or a user with manage company permissions will:

  1. Hover over the gear icon, click Settings
  2. Click Preferences under Accounting
  3. Click the Edit icon
  4. Select the Books Closed Date
  5. Click Save

The Books Closed date can always be updated/edited but must be the day of setting/editing or earlier. It can not be a future date.

 

How does it work

Once the books closed date is set, the following will not be allowed:

  • Create a bill, invoice, vendor credit or credit memo with an invoice/credit date in a closed period
  • Select a process date within a closed period when scheduling or recording a payment
  • Deleting bills or invoices with an invoice date in a closed period

The following will still be allowed:

  • Apply a vendor credit or credit memo with a credit date in a closed period
  • Void or cancel payments with a process date in a closed period as long as the payment has not deposited or cleared yet

 

How to disable

To disable the books closed date in Bill.com:

  1. Hover over the gear icon, click Settings
  2. Click Preferences under Accounting
  3. Click the Edit icon
  4. Delete the date from Books Closed Date
  5. Click Save

Note: If the setting is not available in your account, an Administrator or user with Manage Company permissions can contact Support to ask for the setting to be enabled.