Showing results for 
Search instead for 
Did you mean: 

Enter adjusting journal entries in QuickBooks Online Accountant

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.

You can create adjusting journal entries for a variety of reasons:

  • Depreciation or amortisation
  • 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

You can designate journal entries as adjusting journal entries. This allows you to easily identify and report on adjusting journal entries.

Make an adjusting journal entry

You'll make adjusting journal entries from your client's QuickBooks Online company file.

  1. Sign in to QuickBooks Online Accountant.
  2. Select the Go to QuickBooks dropdown and select your client's company.
  3. Select Select + New.
  4. Select Journal entry.
  5. Select the Is Adjusting Journal Entry? checkbox.
  6. Follow the steps to record the journal entry.
  7. 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.

  1. Go back to your practice.
  2. Enter Adjusted Trial Balance in the Search bar. Or go to the Reports menu and select the Adjusted Trial Balance report.
  3. Select Customise to adjust the report as needed.

Was this helpful?

You must sign in to vote, reply, or post