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J
Jtiptop
August 26, 2022
Question

Journal entries

  • August 26, 2022
  • 1 reply
  • 1 view

Hello,

I started doing some basic bookkeeping work and one of my tasks is to “clean up” old journal entries. The previous accountant who created these is no longer with the company and I’m not certain how to proceed. I am attaching one example of a journal entry that they created. 
The ultimate goal is for the journal entries to not show up when we view AR aging detail reports. 

1 reply

T
TirzahC
Level 4
August 27, 2022

Let me provide you the information that's showing up on the A/R aging report, Jtiptop.

 

Creating a journal entry will correct inaccurate information in your accounting records. Aside from that, it let's you enter transactions that you're unable to add in other sections of the program.

 

Generally, these entries should no longer show on the A/R Aging after receiving the payment. If you run the report prior to the date it was linked, then it will still show on the A/R Aging since these transactions were still open before receiving the payment.

 

I'm adding this article for more guidance. This will also give you another option on how to clear of A/P balance. Resolve accounts receivable or accounts payable balances on a cash basis balance sheet in QuickBooks Online.

 

You may also need to run other reports to review your transactions. You can check out this article: Run reports in QuickBooks Online.

 

If there’s anything else you need about managing your journal entries and  A/R aging detail reports in QuickBooks, feel free to post a comment below. I’d be more than happy to assist you.

J
JtiptopAuthor
August 29, 2022

Thank you for your reply! 
I’ve never worked with journal entries before- all my book keeping with quickbooks has been a bit more straightforward but this clean up job is quite messy and confusing. The company I am working with has mostly been sold and only a small portion remains with a few clients left. Some of the old clients/transactions and journal entries are associated with old clients. 
I’m adding another screenshot.

If the journal entry has been reversed and it balances out the initial entry, can it simply be deleted without messing anything up? 

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