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Make adjusting entries in a general journal

You can make adjusting entries in the Make General Journal Entries window.

Adjusted journal entries are entered by accountants to make after-the-fact changes to specific accounts. Accountants make adjustments for a variety of reasons, including booking depreciation or amortization, reallocating accruals and reversing accruals of prepaid income or expenses; adjusting sales tax payable for interest, penalties, or discounts; and entering bank or credit card fees or interest.

Note: All general journal entries written by QuickBooks Fixed Asset Manager (QBFAM) will have the Adjusting Entry checkbox marked by default.

Note: Existing transactions from updated company files will not have the Adjusting Entries checkbox selected by default. Similarly, transactions made in QuickBooks Pro and Premier will not have this checkbox selected by default, unless the transaction was already marked as an adjusted entry in Premier Accountant Edition or higher.

To open the Make General Journal Entries window

  • Go to the Accountant menu and click Make General Journal Entries.

    or

    When you are using the Working Trial Balance window, click Make Adjustments.

To make an adjusting entry in the Make General Journal Entries window

  1. Fill in the transaction date. To ensure proper reporting of adjusting entries, be sure to use the last date in the accounting period (usually the last day of the month) as the date for your adjustments.

  2. Fill in the entry number.

    Note: If you have already created an adjusting entry, QuickBooks automatically populates the Entry No. field with the next number. You can change this number; however, QuickBooks does not monitor entry numbers. Be careful not to enter a duplicate number.

  3. Choose the Adjusting Entry checkbox.

  4. In the detail area, enter the first account in your transaction, the debit or credit amount, any memo, related name, and class. Continue to enter distribution lines until your transaction reaches a zero balance.

  5. Save the journal entry.

    • Click Save & Close to save the transaction and close the window.

    • Click Save & New to save the transaction and enter a new one.

To view and print a report of adjusted journal entries

  1. Go to the Reports menu, choose Accountant & Taxes, and then click Adjusting Journal Entries.

  2. Enter the date range in which you want to search.

  3. Click Refresh.

  4. Click Print.

KB ID# H_ACCT_ADJUSTING_JOURNAL_ENTRIES
4/20/2014 9:33:14 PM
PPRDQSSWS406 9102 Pro 2013 b97b19