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Record a journal entry in QuickBooks

This article describes the process of making journal entries in QuickBooks Desktop. This can be applicable for scenarios wherein you need to create adjustments to your accounts but you cannot record it using your Point of Sale.

 In QuickBooks Desktop, journal entries are made in the Make General Journal Entry window. This option is available for accountants or users who prefer the traditional system of accounting in which transactions are entered into a general journal (General Ledger). Also, you can use this feature to transfer amounts from one income or expense account to another, or from one class to another.

In order to complete your year-end activities, your accountant may instruct you to record miscellaneous journal entries in QuickBooks Desktop. Your accountant can provide you with the specific information if this step is necessary.

Note: When making journal entries in QuickBooks Desktop, you need to know which account receives the debit and which account receives the credit side of the transaction. Consult your accountant or accounting professional if you need further guidance over which journal entries need to be debited or credited. Making journal entries in the Premier and Enterprise versions of QuickBooks Desktop displays a debit and credit total at the bottom of the grid, above where you see past journal entries. This feature is not available in Pro.

Detailed instructions
  1. From the Company menu, choose Make General Journal Entries.
  2. (Optional) In the Make General Journal Entries window, change the Date field.
  3. If there is no number in the Entry No. field, enter a number for your journal entries. QuickBooks Desktop will automatically number subsequent journal entries.
  4. Enter General Journal Entry details - distribution lines:

    1. Account Column: Enter or select the first account in your transaction. If you are using an A/R (accounts receivable) or A/P (accounts payable) account, the first account in the General Journal transaction should be the accounts receivable or accounts payable account.
    2. Debit or Credit Column: Enter the debit or credit amount for the account you selected in the previous step.
    3. (Optional) Enter a memo regarding the amount in the Memo column. This memo will appear on reports and will include the General Journal entry.
    4. Enter or select the customer, vendor, employee, or other name associated with the transaction in the Name column.
      Note: This is required for A/R or A/P accounts.
    5. (Optional) If you selected an expense account along with a customer or job, you can make the amount billable to the customer by clicking to check it in the Billable field.. To avoid billing the customer for an expense, be sure that the Billable field has no checkmark in it.
    6. (Optional) Assign a class to the amount.
    7. Repeat Steps 4a through 4f to enter distribution lines until the transaction reaches a zero balance. The total in the Debit column should equal the total in the Credit column.
  5. Click Save & Close to save the journal entry and close the window, or click Save & New to save the newly created journal entry.

NOTE:  If you want the Journal Entry information to show in the Vendor or Customer Center, the entry impacting the customer or vendor must be on the first line of the journal entry.  You cannot have multiple customers and/or vendors on a single journal entry and have the detail show in the Customer or Vendor center.

KB ID# HOW12658
10/21/2016 2:58:45 PM
QYPPRDQBKSWS08 9138 Pro 2017 257f55