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Make adjusting journal entries in Intuit Accountant Suite (IAS)

by Intuit•25• Updated a day ago

Adjusting journal entries modify an account's total balance. Accountants use these to correct minor errors or to document transactions that haven't yet been categorised.

Common uses include recording depreciation or amortisation, reallocating accruals, adjusting VAT payables for interest or penalties, and entering bank or credit card fees.

Here's how to create adjusting journal entries and review them on an Adjusted Trial Balance report in Intuit Accountant Suite (IAS).

Important: If you are not an accountant, you should use the standard process to enter a regular journal entry.

What you’ll need

  • Access to Intuit Accountant Suite (IAS).
  • An active client company file.

Enter an adjusting journal entry

To record an adjustment within a client’s QuickBooks Online company file, follow these steps:

  1. Sign in to Intuit Accountant Suite (IAS).
  2. Select the company name ▼ dropdown and select your client's company.
  3. Select + New or + Create.
  4. Select Journal entry.
  5. Select the Is Adjusting Journal Entry? checkbox.
  6. Follow the steps to record the journal entry.
  7. Select Save and close.

Review adjusting journal entries

Run an Adjusted Trial Balance Report to review your adjusting journal entries. This report lists all account balances in the general ledger before and after you make adjusting journal entries. It also lists the total adjusting entries. In Intuit Accountant Suite (IAS):

  1. Go to Firm Books A bunch of numbers and letters on a tile wall., select Reports & Analytics, then select Standard reports (Take me there).
  2. Select the Adjusted Trial Balance report.
  3. Select Customise to adjust the report as needed, then select Apply changes.
  4. Make sure the total debit balances equal the total credit balances.

Results

The Adjusted Trial Balance report shows your new adjusting entry. You can also use this as a general ledger report. It lists all account balances in the general ledger before and after adjustments.

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