QuickBooks Journal Entry: How To Create And View It

Journal entry is a good way for businesses to store their transaction records. If you are a regular QB (QuickBooks) user, you want to create and view the QuickBooks journal entry from time to time.

It is important to have a basic understanding of accounting if you want to use the QB journal entry feature effectively. So, if you know the basics, your next step is to learn how you can create and view journal entries in QuickBooks.

Learn how you can create and view journal entries effectively in QuickBooks Online and QuickBooks Desktop via this guide.

What Are The Reasons For Creating A QuickBooks Journal Entry?

Many businesses decide to create journal entries for various reasons. The main reasons to create one are as follows:

Enter credits and debits manually, as in old accounting systems.
Transfer money between expense and income accounts.
Transfer money from an equity, asset, or liability account to an expense or income account.

How To Add A Journal Entry In QuickBooks Online?

So, do you want to know how you can create a journal entry QuickBooks online?

Follow these steps to add an entry in QBO:

Firstly, log into your QuickBooks Online account.
Then, click on the “+New” icon from the dashboard.
After that, select the “Journal entry” option.
Now, choose an account from the “Account” button.
Next, select the second account from which you are moving money or taking it.
Make sure you enter the exact amount in the opposite column.
Now, verify the amount you are debiting or crediting.
The amount should be exactly the same on the “Credit” and the “Debit” columns.
After that, add the data in the memo section to remember the reason you created this journal entry.
Lastly, click the “Save and close” button or the “Save and new” button.

Now, you can create a QuickBooks Online journal entry without any problem.

How To Create Journal Entries In QuickBooks Desktop?

After learning how to create entries on QBO, it’s time we also know how to do it on QuickBooks Desktop.

The process to create journal entries on QB Desktop is as simple as it was in QBO.

Follow these steps to add entries in QB Desktop:

Firstly, log into your QB Desktop account.
Then, head to the “Company” tab from the dashboard.
Next, click on the “Make General Journal Entries” option.
After that, enter the required info in all the fields to add an entry.
Don’t forget to match the debits and credits section to avoid errors in journal creation.
Finally, click the “Save” button or the “Save & Close” button.

See, creating a journal entry in QB Desktop was just like in QBO. Now let’s understand a few more important aspects of an entry.

How To Edit A QuickBooks Journal Entry?

Follow these steps in order to edit a journal entry in QuickBooks:

Firstly, log into your QuickBooks account.
Next, head to the “Company” tab from the dashboard.
After that, click the “Make General Journal Entries” option.
Search and choose the journal entry you wish to edit:
- For QuickBooks on Windows: Tap on the “Find” button and add Entry No., Name, Amount, or Date, and after that, select “Find.”
- For QuickBooks in Mac: Find and click the journal entry from the left side list of “Make General Journal Entries.”
After that, choose the journal entry on Mac or double-click on Windows.
Lastly, confirm everything and click the “Save” button or the “Save & Close” button.
If you want to record the new changes, click “Yes.”

How To Reverse A Journal Entry On QuickBooks?

Follow these steps to reverse entries on QuickBooks:

Firstly, head to the “Company” tab.
Next, choose the “Make General Journal Entries” option.
Now, search for the journal entry you wish to reverse:
- For QuickBooks on Windows: Click the “Find” button and add Entry No., Name, Amount, or Date, and click “Find.”
- For QuickBooks in Mac: Find and click the journal entry you wish to reverse from the left side list of “Make General Journal Entries.”
Next, click “Reverse.”
Finally, tap on the “Save” button or the “Save & Close” button.

A reversed journal entry will contain an “R” icon next to an entry number.

How To Delete A Journal Entry In QuickBooks?

Follow these steps to delete a journal entry in QuickBooks:

Firstly, log into your QuickBooks account.
Next, head to the “Company” tab from the dashboard.
After that, click the “Make General Journal Entries” option.
Now, search for the journal entry you wish to delete:
- For QuickBooks on Windows: Click the “Find” button and add Entry No., Name, Amount, or Date, and click “Find.”
- For QuickBooks in Mac: Find and click the journal entry you wish to reverse from the left side list of “Make General Journal Entries.”
If you want to delete a journal entry:
- For QuickBooks on Windows: Double-click on the journal entry. After that, select the “Delete” or “Void” option and press the “OK” button.
- For QuickBooks in Mac: Head to the “Edit” tab and select the “Delete General Journal” option.
Finally, click the “Save & Close” button.

How To View A Journal Entry In QB?

Follow these steps to view an entry in QB:

Firstly, head to the “Reports” section from the left panel.
After that, from the search box, look for “journal.”
Next, click on the drop-down menu from the “particular Report” period and select the “Month-to-date” option.
After that, tap on the “Custom” option.
Then, edit the “date range” to see the “journal entries” for that specific time.
Finally, click at any place on the “particular page” to update the report.

Now, you can see the general journal entries in QB.

How To Find Who Added A Particular Journal Entry?

If other users are using the same account, you may need to know who added a particular journal entry.

Follow these steps:

Firstly, you need to head to the “Audit Log.”
To do that, press the “Gear” icon.
Next, select the “Audit Log” option.
Tap on the “Filer” button in the Activity Log menu.
After that, use the filters “Transactions” and “Date.”
To view the list of transactions, click “Apply.”

Bottom Line

Creating a QuickBooks journal entry is an easy process. If you want to secure your transactions safely, you can’t avoid using Quickbooks.

Suppose you face some error while using QuickBooks for creating a journal entry. In that case, contact MWJ Consultancy. We are a professional company offering expert services for accounting software errors.

Call us at +44-800-520-0027 or drop a mail at info@mwjconsultancy.co.uk. Our experts can provide expert services for all types of accounting software like QuickBooks, Xero, Sage, etc.

Frequently Asked Questions

When Should I Enter Journal Entries In QuickBooks?

The best time to use QuickBooks for Journal Entries is when you want to update Equity and transfer money from the “Balance Sheet” to the “Profit and Loss statement.”

What Is The Purpose Of General Journal Entries In QuickBooks?

Journal entries assist you with correcting wrong information in the accounting record and adding transactions that you cannot store in other software sections like depreciation expenses or tax adjustments.

How Do I Adjust Journal Entries In QuickBooks?

Follow this process to know how to create an adjusting journal entry:

Firstly, log into your QuickBooks account.
Next, click the “Go to QuickBooks dropdown” and choose the client’s company.
Click on the “+New” icon.
After that, press the “Journal entry.”
Moreover, tap on the “Is Adjusting Journal Entry?” checkbox.
Then, follow the on-screen steps to record the entry.
Finally, click the “Save and close” button.