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You're reading from  Mastering Quickbooks® 2023, Fourth Edition - Fourth Edition

Product typeBook
Published inNov 2022
PublisherPackt
ISBN-139781803243634
Edition4th Edition
Tools
QuickBooksQuickBooks
Concepts
Business Management
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Author (1)
Crystalynn Shelton
Crystalynn Shelton
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Crystalynn Shelton

Crystalynn Shelton is a licensed CPA and small business advisor specializing in financial accounting software training, coaching, and consulting. She has written two Amazon Bestsellers, Mastering QuickBooks 2020 and Mastering QuickBooks 2021. In addition to having experience as a small business owner, she has more than 20 years' experience in providing accountancy consultancy in the entertainment, oil and gas, education, and computer technology fields. Crystalynn is an Advanced Certified QuickBooks ProAdvisor and has taught accounting, bookkeeping, and QuickBooks courses for the last 12 years at the University of California at Los Angeles Extension. When she is not in the classroom, Crystalynn enjoys trying new restaurants and curling up with a good book!
Read more about Crystalynn Shelton

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Recording journal entries

A journal entry is used to adjust your books for transactions that have not been recorded throughout the year. Depreciation expense for fixed assets, income and expense accruals, and adjustments to retained earnings are three examples we have discussed in this chapter.

Follow these steps to record a journal entry in QuickBooks:

  1. Click the + New button and select Journal entry, as indicated in Figure 15.7:
Graphical user interface, text, application Description automatically generated

Figure 15.7: Selecting Journal entry below the Other column

  1. A screen will appear similar to the one shown in the following screenshot:

    Figure 15.8: Journal Entry template

    The following is a brief explanation of the fields that need to be completed in order to record a journal entry:

    • Journal date: Enter the effective date of the journal in this field.
    • Journal no.: QuickBooks will automatically populate this field with the next available journal number. If this is the first journal entry...
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Mastering Quickbooks® 2023, Fourth Edition - Fourth Edition
Published in: Nov 2022Publisher: PacktISBN-13: 9781803243634
© 2022 Packt Publishing Limited All Rights Reserved

Author (1)

author image
Crystalynn Shelton

Crystalynn Shelton is a licensed CPA and small business advisor specializing in financial accounting software training, coaching, and consulting. She has written two Amazon Bestsellers, Mastering QuickBooks 2020 and Mastering QuickBooks 2021. In addition to having experience as a small business owner, she has more than 20 years' experience in providing accountancy consultancy in the entertainment, oil and gas, education, and computer technology fields. Crystalynn is an Advanced Certified QuickBooks ProAdvisor and has taught accounting, bookkeeping, and QuickBooks courses for the last 12 years at the University of California at Los Angeles Extension. When she is not in the classroom, Crystalynn enjoys trying new restaurants and curling up with a good book!
Read more about Crystalynn Shelton

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