Learn how to create and view adjusting journal entries.
The reasons to create and view adjusted journal entries:
- Booking 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
|Note: You can also view adjusting journal entries in specific reports, and customise other reports to identify adjusting journal entries.|
Make an adjusting journal entry
- From the Toolbar, select your client's company from the Go to client's QuickBooks dropdown list.
- Select + New.
- Select Journal Entry.
- Select the Is Adjusting Journal Entry? checkbox.
- Follow the steps to create the journal entry.
- Select Save and close.
The journal entry is recorded and identified as an adjusting journal entry.
View adjusting journal entries in reports
You can view adjusting journal entries in the following reports:
- Adjusting Journal Entries
- Adjusted Trial Balance
You can customise the following reports to turn on an Adj column:
- Journal (accountant users see the Adj column by default)
- Transaction Detail by Account (accountant users see the Adj column by default)
- Transaction List by Date
- Transaction List with Splits
- Recent Transactions
- General Ledger
Review a report:
- From the left menu, select Reports.
- Select the Accountant Reports tab or enter the name of the report in the Search bar.
- Select the report to view from the results.
- To add the Adj column to the report, select Customise, and in the Rows/Columns section, select the Change columns item.
- Select the checkbox for the Adj. column to add it to the report.
- Select Run report.
The report displays the Adj column.