Automatic reversal journal entries

Hi Ennie,

Welcome to Community!  QuickBooks Online provides the features you need to accomplish all of your bookkeeping tasks seamlessly.  I'll be glad to assist!

When it comes to creating adjusting journal entries, you'll have the option to reverse them after you've Saved the entry.  You can also refer to this helpful guide for deleting or reversing journal entries in QuickBooks Online.

Please let us know if this has been solved.  Your success is important and we're always happy to help!

Thank-you for the reply. I was hoping at the time of entry, there would have been a check button for automatically reversal of an adjusting entry to take effect immediately at the beginning of the new fiscal year, . This is too time consuming.

Thank-you 

you did not provide an answer to the question. 

Hi there Nadeem Dean,

Thanks for reaching out about making adjusting entries for your books. QuickBooks Online is a great tool able to help you keep track of your sales and expenses so you know the profitability of your business. I can provide some information about creating journal entries.

In QuickBooks Online Canada, there isn't the option to check a box to automatically reverse a journal entry in the next period. It would need to be created manually. I can see that this would be a feature that you'd like to see in order to save time with year-end adjustments. I recommend leaving feedback in the system by clicking on the Gear Icon, then Feedback. The comments made in that section are taken into consideration when designing new features for the software.

If you have any other questions, feel free to reach out here.

Yes!!!    I know this is an old post ... but being able to set up reversing Journal Entries would be a dream !!

This is sad. It's a basic feature.

Hi there shortcut1 and Ennie,

Thanks for reaching out about reversing journal entries. QuickBooks Online is a great tool able to assist you in having access to your books from anywhere with an internet connection. I can provide some information about this.

There isn't the option to automate the creation of a reversing journal entry. To submit your feedback to the development team so it can be considered for the creation of future features, you can click on the Gear Icon, then Feedback in your QuickBooks account,

If you have any other questions, feel free to reach out here.