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kelly2024
Level 1

do i need to input journal entry mannually?

company has input purchase order in Quickbooks and create bills for this purchase order. When the company paid for the purchase order in quickbooks, i will select the bill and mark as paid with payment date and method (Debit cash). after i marked the payment as paid. Does Quickbooks automatically create journal entry in system or do i need to create journal entry manually  (Dr.:AP, Cr:Cash)?

2 Comments 2
FaithA
QuickBooks Team

do i need to input journal entry mannually?

Thanks for posting in the Community, kelly2024. Let me share some information about creating journal entries in QuickBooks Online (QBO).

 

We don't have to create a journal entry after marking the bill as paid. QuickBooks Online can record it in your journal entries.

 

To do that, follow these steps:

  1. Select Expenses.
  2. Click Bills, and then select the bill transaction you want to record.
  3. At the bottom of the bill, select More and then Transaction Journal.
  4. Once done, click Save

 

However, it's important to keep in mind that journal entries should only be used as a last resort for entering transactions. They should only be used to move money between accounts and balance books in specific ways.

 

On the other hand, here are the steps to create a journal entry:

  1. Select the + New button.
  2. Click Journal entry.
  3. On the first line, select an account from the Account field. Depending on if you need to debit or credit the account, enter the amount in the correct column.
  4. On the next line, select the other account you're moving money to or from. Depending on if you entered a debit or credit on the first line, enter the same amount in the opposite column.
  5. 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.
  6. Enter information in the memo section so you know why you made the journal entry.
  7. Hit Save and new or Save and close.

 

With that, it's best to consult with your accounting professional first before making any changes to your accounts. However, if you don't have an accountant, you can find one here in our Resource Center

 

For more details about creating journal entries, check out Create journal entries in QuickBooks Online

 

Additionally, you can visit this article to learn how to create and review adjusting journal entries: Make adjusting journal entries in QuickBooks Online Accountant.

 

Let me know if you need further assistance on journal entries and other QuickBooks-related matters. We're always available to assist. Stay safe, kelly2024. 

Rainflurry
Level 15

do i need to input journal entry mannually?

@kelly2024 

 

It's obvious @FaithA  didn't understand your question.  

 

When you pay a bill (or make a deposit, create an invoice, write a check, record an expense, pay a bill, etc.) QB is making journal entries in the background.  You don't need to make a journal entry manually.  If you want to see the journal entries that QB makes, you can pull up the bill or bill payment and click 'More' on the bottom-middle of the screen, then click on 'Transaction journal'. 

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