Let me give you some tips on how to apply Journal Entry, @Ankle2023.
Journal entries are created to accurately record every business transaction, showing the amount credited or debited from a specific account, physically or digitally.
If you're referring to creating a journal entry, here's how:
- Select + New.
- Select Journal entry.
- On the first line, select an account from the Account field.
- On the next line, select the other account you're moving money to or from.
- Check the amounts - you should have the same amount in the Credit column on one line and the Debit column on the other. This means the accounts are in balance.
- Enter information in the memo section so you know why you made the journal entry.
- Select Save and new or Save and close.
If you're trying to apply a journal entry as a credit to a transaction, such as an invoice and bills, ensure that it is affecting the Accounts Receivable and Accounts Payable categories. This way, the entry will appear on the Receive Payment or Pay Bills page.
- Select + New.
- Select Receive Payment or Pay Bills.
- Choose a customer.
- Under Outstanding Transactions, select the invoice.
- Under Credits, select the journal entry to apply it as a credit.
- Select Save and Close.
Moreover, let me share these articles that you can check to help you manage your transactions in the future:
Keep me posted if you have any further questions regarding your journal entry and credits. I'm here to help you out. Have a wonderful day.
