QuickBooks | Can vs. allow
Software: Intuit QuickBooks accounting software
QuickBooks does provide a “closing date” to “close up” the account to prevent the standard user from amending it; but it does not prevent the Admin user from changing the data, as the password of the Closing Date was set by the Admin.
Since there is no “permanent lock” to lock up the account, it provides the user with the flexibility to amend the mistake when a transaction is wrongly recorded.
Although you can amend the transactions in QuickBooks, you should not amend the data if you had already closed up the month-end or year-end; or in the event when Bank Reconciliation had already been done or when the GST had already filed.
You can edit the transaction, but that doesn’t mean that you are allowed to change it as this may affect the integrity of the account. Instead of editing the transaction, you may consider to use a credit note or general journal to offset the original entry.