A Complete Guide to Create QuickBooks Journal Entry

To avoid using invoices or bills for moving money between accounts or adjusting balances, you can use a journal entry. Furthermore, you can use these entries to correct errors, track depreciation, or transfer funds between income and expense accounts. However, you need to make sure of some things before creating a journal entry.

You must have basic accounting knowledge, like about debits and credits; the total of the Debits column must be equal to the total of the Credits column. Now, it is time to get deeper into the blog and start creating a journal entry. 

Here Is How to Create a QuickBooks Journal Entry

This is how you can create journal entries in QuickBooks. Let us walk you through the steps to record a standard journal entry:

• Click on the + Create option.
• Next, choose Journal entry, and on the first line, choose an account from the Account field.
• After this, you are required to enter the transaction amount in either the Debits or Credits column.
• Now, in the next line, you will need to select the other account that is involved in the transaction.
• At this step, enter the same amount in the opposite column. For instance, if the first line was a Debit, this must be a Credit.
• Enter the information in the Memo section to tell the reasons for the entry. This step is optional.
• Next, you need to ensure that the totals for the Debit and Credit columns are equal.
• Finally, tap Save and new, or Save and close. 

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Review, Reverse, and Delete Your Journal Entry

In order to verify the recorded entries' details, you can view a history of your recorded journal entries. 

See how to:

Review a Journal Entry

• The very first step is to go to the Reports menu.
• Next, search for the Journal report and run it.
• After this, you need to review the list to see all journal entries that are posted on your accounts. 

Reverse a Journal Entry

If you need to fix a debit or credit error or want to allocate a transaction between two accounting periods, you can reverse the journal entry. Note: This won’t delete the original journal entry. 

• Move to All Apps, followed by Accounting.
• Then, click on the Chart of Accounts.
• Now, select the account for which you created the journal entry. 
• After this, you need to choose the View register.
• Look for the journal entry in the account register. Here, the word “Journal” should be in the Ref No or Type column.  
• Choose the journal entry to expand the view and then click on Edit.
• Tap on the Reverse option, followed by Save. 

QB creates a new journal entry when you reverse one to balance it. 

Delete a Journal Entry 

• Now, let’s learn how to delete a journal entry
• Select the account for which you created the journal entry.
• After this, you need to choose the View register.
• Look for the journal entry in the account register. Here, the word “Journal” should be in the Ref No or Type column.  
• Choose the journal entry to expand the view and then click on Delete.
• Choose Yes to confirm. 

Also read:- QuickBooks Error Code 6190 appears when the company file and transaction log mismatch, preventing access and requiring quick troubleshooting steps.

Conclusion

In the blog, we have explained the steps to create a QuickBooks journal entry, reverse it, and delete it. If you still can’t do it, don’t hesitate to consult a professional for guidance. Give a call to +1(855)-510-6487 and talk to an expert.