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 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 the client's company from the Go to client's QuickBooks drop-down list.
- Select Create ⨁.
- Under Other, select Journal Entry.
- Select the Is Adjusting Journal Entry? checkbox.
- Enter the journal entry, as required.
- Select Save.
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.