Learn how to create adjusting journal entries and review them in an Adjusted Trial Balance report.
An adjusting journal entry is a type of journal entry that adjusts an account's total balance. Accountants usually use adjusting journal entries to fix minor errors or record uncategorised transactions. Here's how to make and review adjusting journal entries in QuickBooks Online Accountant.
|Note: This feature is only available in QuickBooks Online Accountant. If you're not an accountant, here's how to enter a normal journal entry.|
Make an adjusting journal entry
You'll make adjusting journal entries from your client's QuickBooks Online company file.
- Sign in to QuickBooks Online Accountant.
- Select the Go to QuickBooks dropdown and select your client's company.
- Select Select + New.
- Select Journal entry.
- Select the Is Adjusting Journal Entry? checkbox.
- Follow the steps to record the journal entry.
- Select Save and close.
Review adjusting journal entries
Run an Adjusted Trial Balance Report to review your adjusting journal entries. Verify that the total debit balances in the general ledger equal the total credit balances. The Adjusted Trial Balance Report lists all account balances in the general ledger before you recorded adjusting journal entries. It also lists the total adjusting entries and account balances after the adjustments. It's a document for your review, not a financial statement.
- Go back to your practice.
- Enter Adjusted Trial Balance in the Search bar. Or go to the Reports menu and select the Adjusted Trial Balance report.
- Select Customise to adjust the report as needed.