Reverse or delete a journal entry

Learn how to reverse a journal entry to swap the debits and credits, or delete it entirely.

You should only create journal entries as a last resort or with the help of your accountant. If you need to, you can reverse a journal entry to update and correct it. Or, if you created the entry by mistake, you can delete it.

Reverse a journal entry

If you need to allocate a transaction between two accounting periods or fix a debit and credit error, follow these steps. This simply reverses the debits and credits - it doesn't delete the original journal entry:

When you reverse a journal entry, QuickBooks creates a new journal entry to balance it. This is a record of the change you made. It has slightly different information:

• The new journal entry keeps the original journal no. and adds the letter "R". This means it's reconciled.
• The new journal entry is dated the first day of the month following the original journal entry date.
• The new journal entry keeps the same info, such as the Account, Name, and Description, as the original journal entry.

Delete a journal entry

If you created a journal entry by mistake, follow these steps to permanently delete it. You must be absolutely sure you need to delete the journal entry. This can quickly unbalance your accounts:

Note: If you invited your accountant to review your books, they can also make an adjusting journal entry instead of deleting the original entry.