QuickBooks Journal Entry: Concepts, Uses, and Practical Examples Learn when and how to record accurate journal entries in QuickBooks to keep books clean and compliant. For help with QuickBooks Journal Entry tasks, call +1-866-408-0444 today.
What Is a Journal Entry? A journal entry is an accounting record that captures a business transaction using debits and credits in the general ledger. In QuickBooks, a journal entry can be used to adjust balances, correct errors, and record transactions that do not originate from regular forms such as invoices or bills.
For guidance on setting up your first QuickBooks Journal Entry, contact +1-866-408-0444.
Types of Journal Entries in QuickBooks
Standard Journal Entries Regular entries used for day-to-
Adjusting Journal Entries
Recurring Journal Entries
day adjustments or non-form-based
Period-end entries used by
Templates you can schedule for
postings, such as reclassifying
accountants to handle accruals,
repeating transactions like
expenses or reallocating income.
deferrals, depreciation, and other
monthly rent, prepaid expense
financial statement adjustments.
amortization, or loan interest.
For help configuring recurring journal entries, call +1-866-408-0444.
When to Use a QuickBooks Journal Entry Use a QuickBooks Journal Entry when a transaction cannot be recorded using normal workflows such as sales receipts, bills, or checks, for example complex allocations or non-cash items.
Common Use Cases Correcting Misposted Transactions
Recording Depreciation
Accruing Expenses or Income
Transferring Balances Between asset, liability, or equity accounts
Not every transaction should be entered manually; if unsure whether a QuickBooks Journal Entry is appropriate, call +1-866-408-0444.
Core Elements of a Journal Entry Each QuickBooks Journal Entry includes: A date An entry number Accounts Debits Credits An optional memo describing the purpose of the transaction Every entry must keep the accounting equation in balance, meaning the total debit amount must equal the total credit amount before the transaction can be saved. If you need help choosing the correct accounts and maintaining balance in a QuickBooks Journal Entry, reach out at +1-866-408-0444.
Steps to Create a Journal Entry in QuickBooks Online 01
02
03
Open the New Menu
Enter Account Details
Save the Entry
From the main dashboard, open the
Select the appropriate accounts on
Save once total debits equal total
"New" menu and select "Journal Entry,"
each line, enter debit and credit
credits.
then choose the transaction date and
amounts, add a memo for clarity.
reference number if applicable. For step-by-step assistance with any QuickBooks Journal Entry in your Online file, call +1-866-408-0444.
Steps to Create a Journal Entry in QuickBooks Desktop Access General Journal Entries In QuickBooks Desktop, go to the "Company" menu and choose "Make General Journal Entries," then set the date, entry number, and currency if needed.
Complete the Entry Lines On the lines below, select accounts from your chart of accounts, assign debits or credits, reference customer or vendor names if applicable.
Confirm and Save Save the entry after confirming it balances.
If you want expert guidance creating or reviewing a QuickBooks Journal Entry in Desktop, dial +1-866-408-0444.
Best Practices for Journal Entries Document Everything
Restrict Access
Document the reason for every QuickBooks Journal
Restrict manual journal entries to users with
Entry using clear memos, and attach relevant
appropriate accounting knowledge, and use recurring
documents so reviewers understand the transaction
templates carefully to avoid duplicating or
later.
misposting transactions.
For help establishing best-practice workflows around QuickBooks Journal Entry activity, contact +1-866-4080444.
Common Mistakes and How to Avoid Them Frequent Issues
How to Avoid Problems
Using the wrong account type
Review the impact of each QuickBooks Journal Entry on
Reversing debits and credits
financial reports
Duplicating activity already recorded by invoices,
Run a Journal report periodically
bills, or other transactions
Correct or reverse inaccurate entries promptly
If you suspect an error in your QuickBooks Journal Entry history and need help cleaning it up, call +1-866-408-0444.
Reviewing and Reporting on Journal Entries QuickBooks provides reports such as the Journal or General Ledger that allow you to review all QuickBooks Journal Entry activity for a selected date range. Regularly reviewing these reports improves audit trails, ensures proper classification, and helps prepare accurate financial statements for management and tax filing. For assistance analysing or optimising your QuickBooks Journal Entry reports, get in touch at +1-866-408-0444.
