A Handy Guide On How To Make QuickBooks Journal Entry

Are you looking for effective answers on how to make a journal entry in QuickBooks Desktop? Well, if that’s so, then your search might end here. Simply put, QuickBooks journal entry is a way that allows the user to record their financial transactions in the QuickBooks application. However, if you are interested in doing this, you need to have a good accounting knowledge base. Another alternative is to assist an expert who can help you in recording QB Journal Entry. We have come up with this blog, where you will develop a good understanding of the process of creating a journal entry in QB Desktop 2019 and will be able to do it on your own like a geek.

What Is Meant By QuickBooks Journal Entry? 

A record of transactions in which the total amount debit equals the total amount credit is termed as a QuickBooks journal entry. 

• It includes the Debits and Credits that the Company makes.
• Besides, it holds the information of money transfer between income and expense account.
• Money transfer to income or expense account from the equity, asset, or liability account.

How To Create QuickBooks Desktop Journal Entry?

By now, you have known all the corners of what a journal entry means. The below-mentioned steps elaborate on how to write a QuickBooks Accounting Journal Entries:

• At first, you need to go to the Company and select the option Make General Journal Entries.
• Now in the Make General Journal Entries window, you have to change the Date field. It is required if you want your entry to get recorded in a proper financial period.
• Once done, one has to enter a number for the journal entry made in Entry No. Field. QuickBooks will automatically number the subsequent journal entries in a proper sequence. 
• To proceed further, you have to enter the general ledger QuickBooks account number in the Account column.
• Moving ahead, enter the debit or credit amount for the account that you have selected into the Debit or Credit columns. You need to make sure that the debit and credit amounts are equal and then allow QuickBooks to post the entry.
• After that, you have to enter a descriptive memo about the journal entry in the Memo column. (However, it is an optional step, but might prove helpful at times).
• Till the time your entries completely offset each other, you must keep on repeating the steps.
• Moreover, if you want your transaction to reach a zero balance, you need to make sure that the Debit column amount should be equal to the amount in the Credit column. Besides, it also helps to balance your QuickBooks journal entry correctly.
• Lastly, click on save and close the window to save the journal entry that you have made. Moreover, if you want to save your journal entry and open a new window, you have to click on Save & New.

Also Read: How To Download And Run QuickBooks File Doctor Tool 

Need Technical Assistance! 

We hope the above-provided information has proved useful to you and would be able to make a QuickBooks journal entry without any hassle. If you need any further assistance, give us a call on our Toll-Free Number +1(855)-856-0053 to talk to the Asquare Cloud Hosting expert team.