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Experienced Member

Correct transactions that were entered into an Equity account instead of a Bank account

I'm helping a friend with her books and she has been using her "Equity" account to put in general journal entries for every Deposit and Expense (instead of "writing checks" and "making deposits"). She has made hundreds of entries doing this. Is there a way to GJ a monthly entry changing these entries to her "Bank" account? 

Solved
Best answer 04-25-2019

Accepted Solutions
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QuickBooks Team

Re: Correct transactions that were entered into an Equity account instead of a Bank account

Hello there, @CC4ES.

 

Let's edit the general journal entries to correct the transactions.

 

But before doing so, I recommend contacting your accountant for an expert's advice to ensure there'll be no problem with your books in the future. Anyhow, here's how to open and edit the journal entry:

 

  1. At the top menu, click Banking.
  2. Choose Register.
  3. Select the Equity account.
  4. Look for the journal entry transaction.
  5. Double-click the Balance amount.
  6. Update the necessary information.
  7. Click Save & Close.

I've got you an article for more information: Record a Journal Entry.

 

In case you need tips and related articles in the future, visit our QuickBooks Community help website for reference: QBDT Self-help.

 

That's it! Don't hesitate to let me know if you have other concerns about GJE. I'd be glad to help.

QuickBooks Team

Re: Correct transactions that were entered into an Equity account instead of a Bank account

Thanks for getting back to the QuickBooks Community, @CC4ES.

 

I understand how the option you're looking for would be helpful for you in order to edit the journal entries account conveniently. For the meantime, you'll need to open and edit the journal entry one transaction at a time. 

 

Finding new ways to adapt to our customers’ needs is how QuickBooks gets even better. You'll receive a notification once this option is already available. You can also visit our QuickBooks Blogs to know more about the newly added features and options in QuickBooks. 

 

If you need further assistance when editing journal entries transactions, I encourage you to contact our QuickBooks Desktop Support Team. They have additional tools to pull up your account and do a remote session. 

 

Here's how you can contact our customer support:

  1. Select QuickBooks Desktop Help from the Help menu.
  2. You can also press F1 on your keyboard to bring up the same Help Panel. 
  3. In order to route you to the correct support expert, we need to know what type of question you have.
  4. Click Continue.
  5. We’ll provide you a few options. You choose which one is best for you.

Please know that you're always welcome to post if you have other questions about the Journal Entry. The Community team will always here to help. Have a good one. 

 

4 Comments
Highlighted
QuickBooks Team

Re: Correct transactions that were entered into an Equity account instead of a Bank account

Hello there, @CC4ES.

 

Let's edit the general journal entries to correct the transactions.

 

But before doing so, I recommend contacting your accountant for an expert's advice to ensure there'll be no problem with your books in the future. Anyhow, here's how to open and edit the journal entry:

 

  1. At the top menu, click Banking.
  2. Choose Register.
  3. Select the Equity account.
  4. Look for the journal entry transaction.
  5. Double-click the Balance amount.
  6. Update the necessary information.
  7. Click Save & Close.

I've got you an article for more information: Record a Journal Entry.

 

In case you need tips and related articles in the future, visit our QuickBooks Community help website for reference: QBDT Self-help.

 

That's it! Don't hesitate to let me know if you have other concerns about GJE. I'd be glad to help.

Experienced Member

Re: Correct transactions that were entered into an Equity account instead of a Bank account

I understand that, was just hoping there was a way around individual entry changes since there are hundreds.

Experienced Member

Re: Correct transactions that were entered into an Equity account instead of a Bank account

I understand that, I was just hoping for a solution that was easier than changing hundreds of transactions individually.

QuickBooks Team

Re: Correct transactions that were entered into an Equity account instead of a Bank account

Thanks for getting back to the QuickBooks Community, @CC4ES.

 

I understand how the option you're looking for would be helpful for you in order to edit the journal entries account conveniently. For the meantime, you'll need to open and edit the journal entry one transaction at a time. 

 

Finding new ways to adapt to our customers’ needs is how QuickBooks gets even better. You'll receive a notification once this option is already available. You can also visit our QuickBooks Blogs to know more about the newly added features and options in QuickBooks. 

 

If you need further assistance when editing journal entries transactions, I encourage you to contact our QuickBooks Desktop Support Team. They have additional tools to pull up your account and do a remote session. 

 

Here's how you can contact our customer support:

  1. Select QuickBooks Desktop Help from the Help menu.
  2. You can also press F1 on your keyboard to bring up the same Help Panel. 
  3. In order to route you to the correct support expert, we need to know what type of question you have.
  4. Click Continue.
  5. We’ll provide you a few options. You choose which one is best for you.

Please know that you're always welcome to post if you have other questions about the Journal Entry. The Community team will always here to help. Have a good one.