Intuit QuickBooks Year End Procedures

Setting the closing date and requiring the override password helps protect prior periods from unauthorized changes, but these measures do not entirely prevent them if a user knows the password. The QuickBooks Administrator can grant or deny users the right to change prior period data (provided that there is a closing date entered in the file). Unless other security measures are breached (such as an unauthorized user logging in as the Administrator), this prevents unauthorized users from changing prior period data even if they have learned the password to override closing date restrictions.