Use your research skills to find out how QuickBooks handles closing the books at the end of the year.
After conducting the research, discuss these questions with a group of your classmates:
- What are the issues around closing or not closing?
- Make an argument for or against using closing entries in a computerized system like QuickBooks.
- In QuickBooks, is there a difference between closing the books and making closing entries? If so, what is that difference?