In the Accounting terms, a QuickBooks journal entry has two aspects, i.e. a debit entry and a credit entry. As a rule, the sum of the Debit Column is equal to the Credit column. QuickBooks Online feeds the transactions in the register/account history as journal transactions. Use the Journal Entry in QuickBooks Online when you have to:
In this blog, we will concentrate on How to Create Journal Entry and other essential points related to it. So, let’s begin
A general journal entry is an accounting transaction which posted directly to the company’s general ledger. Journal entries in QuickBooks allows you to adjust transactions post entries.
The process is very simple but you can make a single entry for a customer at a time. If you want to make changes for multiple customers, you need to post separate entries.
Mostly Journal Entries for QuickBooks are done for Income Tax provisions, Depreciation Entries, and Loan interest Adjustments. There are certain conditions to create Journal Entries. These Rules are given below:
Also Read: How to read your QuickBooks General ledger?
Discuss with Accounting Professionals for knowledge and guidance. If you still do not know which account needs the Debit and Credit side of the transaction then follow the below instructions properly. Follow the below steps properly to create a Journal Entry in QuickBooks Online.
That’s all here. Hopefully, you are well aware of the process now and can create Journal Entries in QuickBooks easily. In case of assistance and guidance take technical help at QuickBooks Online Support Number 1-877-263-2742.
If you ever feel the need of taking advice from your fellow business owners that happened to be our existing subscribers, you can visit our thriving QuickBooks Community.
Looking for help? Talk to one of our experts to quickly resolve your Accounting Softwares errors!