To get the most out of QuickBooks’s reporting capabilities. General journal entries should be used as a last resort open in the create menu. If the transaction involved a customer, you should use transactions underneath the customers area of the create menu or if transactions involve the vendor you should use transactions underneath the vendors section of the create menu, but in some rare occurrences you or your accountant may need to record something more abstract in QuickBooks such as value, moving from one account to another to correct an error or to summarize depreciation of an asset. Let’s enter a journal entry. Now QuickBooks displays the date and Journal number at the top of the journal entry. Now enter the first account that you want to be impacted by the journal entry. One of the most common reasons for entering a journal entry is depreciation in a typical depreciation journal entry. The first account to be entered is an other expense account named depreciation then enter the debit or credit amount depend upon what it is you’re trying to do with the journal entry in our case will be debiting depreciation by the amount were depreciating from this asset. Then enter description for why you’re entering this journal entry. Next, enter the second account for the journal entry with the depreciation journal entry. You enter the depreciation subaccount of the fixed asset and QuickBooks bills in the credit amount for you automatically as well as the description. Finally, click save and close to record the journal entry mechanically journal entries are very simple to enter but they are difficult to master because they require an understanding of debits and credits. If you don’t know the ins and outs of debits and credits. Consult your accountant before ever entering a journal entry


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