Reverse or delete a journal entry in QuickBooks Online
by Intuit•380• Updated 2 months ago
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.
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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:
- Select Settings and then Chart of accounts (Take me there).
- Find the account you created the journal entry for. Then select View register.
- Find the journal entry in the account register. The word "Journal" should be in the Ref No. or Type column.
- Select the journal entry to expand the view. Then select Edit.
- Select Reverse.
- Select Save.
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.
- Select Settings and then Chart of accounts (Take me there).
- Find the account you created the journal entry for. Then select View register.
- Find the journal entry in the account register. The word "Journal" should be in the Ref No. or Type column.
- Select the journal entry to expand the view.
- Select Delete.
- Select Yes to confirm.
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