Get Answer on How to Make Adjusting Journal Entries in QuickBooks Online

Errors can happen when entering transactions in the accounting system or the entered transaction had to be split into two different general ledger accounts. Whatever the scenario is to make such corrections, users must know how to make adjusting journal entries in QuickBooks Online. By adjusting journal entries in QuickBooks user is able to adjust or correct transactions and post entries that cannot be performed in other ways, for example adjusting profit or loss. In this blog, we list down how a user can adjust journal entries in QB.

The process is straightforward but at times that user might have issues when dealing with the correction of multiple customer or vendor balances. For any such confusion, we have our team just a call away at (844)-888-4666.

What is meant by adjusting Journal Entries in QuickBooks?

Adjusting journal entry is used to make adjustments to the account’s total balance. From recording, uncategorized transactions to fixing minor errors accountants can make use of adjusting journal entries. The feature of adjusting journal entry in QuickBooks can only be made use of in QuickBooks Online Accountant.  Moreover, the user must be logged in to the client’s company file via QuickBooks Online Accountant.

Reasons for adjusting journal entries in QB Online

• Depreciation or amortization
• Reallocating accruals and reversing accruals of prepaid income or expenses
• Adjusting tax payable for interest, discounts, or penalties
• Entering bank or credit card fees or interest

Make Adjusting Journal Entries in QuickBooks Online

• Open the Accountant menu and hit on Make General Journal Entries.
• Enter the details such as the Entry, such as transaction date, entry number, etc.
• Once you are done with the steps checkmark the box next to Adjusting Entry.
• A detailed area will be displayed where you must enter the first account that is linked with the transaction, debit, credit, memo, name, or class.
• Enter the distribution lines until the transaction reaches $0 balance. At this point, save the adjusting Entry.

Steps to create adjusting journal entries in QuickBooks Online Accountant

1. In QuickBooks Accountant open Toolbar to choose client’s company in Go to client’s QuickBooks dropdown list.
2. Hit on + icon for New.
3. Choose Journal  Entry and select Is Adjusting Journal Entry?
4. Create a Journal Entry and hit on Save and Close.

We hope you will find a solution on how to make adjusting journal entries in QuickBooks by going through this blog and if you are unsure or get overwhelmed by the process dial (844)-888-4666. Our certified Pro team will assist you throughout the steps until you find a resolution for your query.

The right way to attach Scanned Docs to Transactions using QuickBooks Scan Manager

QB has hosted some of the best features to aid the users in day to day tasks. QuickBooks has an advanced tool which is QuickBooks Scan manager that is able to provide support to the user to scan receipts and documents, and finally attach scanned docs to transactions. Also, QuickBooks Scan Manager provides the user with help in importing and categorizing transactions. Another benefit of QuickBooks Desktop Scan Manager is updating the balance sheets, invoices, packing slip, and other documents automatically which saves a lot of time. As a QB user, if you are stuck at any point to attach scanned docs to the transaction using QuickBooks Scan Manager, dial (844)-888-4666.

Steps to Set up and Use QB Desktop Scan Manager

Steps 1: Create the Scan Profile

• Open the Company menu and click on Documents.
• Select the Doc Center.
• From there choose to Scan a Document and move forward to click on the option of New.
• The new option will help you set up a new profile and in case you have an existing file, you can use it.
• Click the Edit profile name.
• Click on Continue.
• Adjust the settings of the profile before hitting on Save.

Step 2:Test your Scanner

1. Highlight the profile and choose Select.
2. Click on Scanner Setup Wizard from Select Scanner Window.
3. Select Normal Mode from the options. 
4. Check-mark the Perform Tests boxes and then hit on Next.
5. For the test, you want to run, click on Test.
6. Hit on Next twice so as to start the testing
7. Check-mark the Repeat this test in order to check all modes' checkbox.
8. Next, you can move ahead to continue testing in other modes that are available

Step 3: Scan and attach documents to transactions in QuickBooks

• Once you are done with the completion of step 2, start using QuickBooks Scan manager.
• Click on the transaction and choose to Attach a File button to attach documents to transactions in QuickBooks.

Here, we conclude our article on how you can attach Scanned Docs to Transactions using QuickBooks Scan Manager. However, for any error that might occur, dial (844)-888-4666 for professional support. Our certified QuickBooks pro advisors will help you resolve any error that might occur and get immediate solutions to your queries.