If you are finding a solution on how to make a journal entry in QuickBooks Desktop, then your find might end here. In general, QuickBooks journal entry is a way to record your financial transactions in the QuickBooks application. However, to do this, you need to have a good knowledge of accounting, or you may need an expert who can guide you in recording journal entries in QuickBooks. Read this article on how to make a journal entry in QuickBooks Desktop and make it on your personal like a geek.
What Is A Journal Entry In QuickBooks?
Before we converse on how to make a journal entry in QuickBooks Desktop, let’s have a brief discussion on what is a journal entry in the QuickBooks application. In simple terms, a journal entry is a record of a transaction in which the entire amount in the debit line equals the total amount in the credit line. Every amount (Credit and Debit) is ascribed to an account on the table of accounts. QuickBooks records the following transactions as GENERAL:
- Debits and Credits of the company.
- Money transfer between income and expense account.
- Money transfer to income or expense account from the equity, asset, or liability account.
- Forthwith that you have a clear knowledge of the QuickBooks journal entry let’s discuss how to create a journal entry in QuickBooks Desktop.
How to Make a Journal Entry In QuickBooks Desktop?
The following given actions detailed how to create a general journal entry in QuickBooks Desktop:
- Go to Company and select Make General Journal Entries.
- Now in the Make General Journal Entries window, change the Date field if you want that your entry to get recorded in a proper financial period.
- After that, enter a number for your journal entry in Entry No. Field. QuickBooks will automatically number the following journal entries in an appropriate order.
For more steps, you have to read or understand that how to create a journal entry in QuickBooks here.
How To View All Journal Entries In QuickBooks?
If you need to see whole your journal entries in QuickBooks, you need to follow the below-given steps.
- Go to the left panel and click on Reports.
- Now in the search box, you need to search for the Journal.
Next, from under the Report period, hit on This Month-to-date drop-down and choose Custom.
- Change the beginning and ending date range for which you want to see all your journal entries of that period.
- Click anywhere on the page to update the report.
- It will help you to view journal entries in QuickBooks
If you are wondering how do I view old journal entries in the QuickBooks application, then follow the link how to find Journal Entry in QuickBooks.
How to Edit A Journal Entry In QuickBooks Desktop?
After making journal entries in QuickBooks Desktop 2020, if you want to edit it for some reason, the below-given steps can help:
- From within the Company menu, select Make General Journal Entries.
- Select Find and enter the Date, Name, Entry Number, or Amount, and then hit the Find button.
- Now double-click the journal entry that you want to modify and then make the required changes.
- Click Save & Close when you are done.
- In the end, click Yes to save the changes.
How To Delete A Journal Entry In QuickBooks?
If you are surprised how to remove or delete a journal entry in QuickBooks, then you are at the correct place. Learning this full article can help you to make the task finished on your own. A journal entry in QuickBooks is a way to record your transactions in the application. You need to have great accounting experience to write a journal entry in QuickBooks, or you may take guidance from an expert analyst.
- Navigate to the Company menu and select Make General Journal Entries.
Now go to the Main tab, and at the top left corner of the Make General Journal Entries window, click on the Left Arrow and it will help you to locate the GJE that should be deleted.
- If you have the GJE number handy, click on Find, and in the Entry No. field, enter the GJE number.
- The actions indicate how to remove or delete a journal entry in QuickBooks. For more steps, you have to visit this link Delete a Journal Entry in QuickBooks.
Words Of Caution:
Now that you know how to delete a Journal Entry in QuickBooks, you need to know how it can be accomplished most efficiently. If you remove or delete a journal entry in QB, it can create errors in balancing accounts. Reversing the entry, carry-outs the same objective as deleting the entry without causing any balancing issue. Furthermore, changing the entry keeps a paper trail if some difficulty or issue arises later. To reverse a journal entry, open a journal entry and select the “Reverse” button placed at the top of the entry window.
If you need to update or correct an entry in QuickBooks, you can reverse a journal entry to swap the debits and credits.
The steps described in this post elaborates on how to how to delete a journal entry in QuickBooks Desktop.