Closing The Books

What is closing the books?

A danger with using online bookkeeping systems is caused by the ability to easily input a transaction with any date. A simple misclick or mistype can wreak havoc on your books by disrupting previously filed periods.

That's why CoinReporting has a feature to "close the books" as of a particular date. This will prevent you from being able to make any changes that affect your books or reports as of a particular books closing date that you set.

Setting The Books Closing Date

To set the books closing date, go to Settings > Tax & Accounting. We recommend that you close the books every time you file a tax return or financial statement.