Tag Archives: journal entry

QuickBooks Online QBO Tutorial for Beginners – August 2016

How would you like to learn QuickBooks in 90 minutes? This FREE video tutorial is specifically designed for beginners in mind. You will learn QuickBooks Online the right way from the start. It covers all the basics you need to learn and offers some helpful tips. If you are looking for step-by-step educational guidance and […]

How can I transfer unapplied credit from one customer to another in QuickBooks Online

A case may occur when a customer wants to apply credit balance to an affiliated company’s open invoice. EXAMPLE: Customer (Mark) has a $500 credit balance. Customer (Martha) has a $500 Open Invoice. They like to clear the accounts by applying $500 credit from Mark’s account to $500 Open Invoice of Martha’s account. One easy […]

Is there a way to download all the journal entries made in a given year? An outside auditor is asking for all the journal entries made in the previous year.

You can download “Journal” report to Excel. There is no way download each Journal Entry one by one. For outside auditors, customized “Journal” report may work just fine. In order to run Journal report, from the blue navigation bar on the left Select Reports > select “Journal” under GO to report  > select Customize button […]

How do I transfer Opening Balance of Balance Sheet Accounts? What would be the other side of accounting entry?

As a general rule, you will use the Equity accounts for one other side entry. What you have are a possible two options. If you are transferring, opening balance from all the Balance Sheet accounts (assets and liabilities), use Opening Balance Equity (under Equity type) account. Opening Balance Equity Account will Net out to zero […]

Is there a way to mass print several hundred past journal entries which were made in Quickbooks online?

There is no way to batch print actual journal entries in new QuickBooks. In fact, there is no print button in QBO, to print actual journal entry that you see on screen at all. To add this new feature request, add your voice here. I have already done so in the past. http://feedback.qbo.intuit.com/

How do I reverse a Journal Entry in this new QB Online?

You can reverse Journal Entry in new QuickBooks Online (QBO). From the home page screen Select Create (+) sign (upper-middle) Select “Journal Entry” under Other heading Select small “Clock” icon for recent transactions, next to Journal Entry form title (upper-left-corner) Select Journal Entry needed to be reversed (select “More” link to expand the list if […]

What is a Journal Entry?

A journal entry is to record a transaction in Journal type. Journal entry is entered with knowledge of debits and credits assigned to specific accounts using a Chart of Accounts. The total of the debits must equal the total of the credits or the journal entry is said to be “unbalanced.” QuickBooks is a form-based […]