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K
kbarte-1-directo
May 15, 2023
Question

Apply a journal entry to a bill?

  • May 15, 2023
  • 1 reply
  • 59 views
How do I apply a journal entry to a bill?

1 reply

Tori B
Tori BQuickBooks Team
QuickBooks Team
May 15, 2023

Hi there, @kbarte-1-directo. 

 

Thanks for reaching out. I hope you're having a great day so far.

 

It's important to keep in mind that Journal entries are the last resort for entering transactions. They let you move money between accounts and force your books to balance in specific ways. With that in mind, it's always best to consult with your accounting professional before making any changes to your account. If you don't have an accountant, don't sweat it. You can find one here in our Resource Center. 

 

In the meantime, you can use the steps I've included below to create a journal entry. For additional information about the debits and credits columns, check out Debit vs. credit accounting: The ultimate guide.

 

  1. Select the + New button.
  2. Choose 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.

 

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

 

Please don't hesitate to let me know if you have any additional questions or concerns. Take care! 
 

K
K-DOI
May 16, 2023

Tori,

Thank you for your reply.  Creating a JE was not the problem.  The problem was applying it to an open Vendor Inv., i.e vendor bill, was the issue.  After many hours & speaking with numerous QBO support folks, I finally, got a lady who knew her stuff!!  YAY!!

 

Again, Tori thank you for reaching out!!! º¿º  

L
lucyquick303
April 19, 2024

Thank you for coming back to this thread, kapp. I am here to assist you with matching open invoices and credit in Journal Entries in your QuickBooks Online (QBO).

 

First off, we'll need to make sure that the journal entry is using the Accounts Receivable. This will let you apply the entry as a payment to close out the invoice.

 

Here's how:

 

  1. Open the Journal Entry.
  2. Under the Account dropdown, choose Accounts Receivable.
  3. Make sure all details are correct.
  4. Click the Save or Save and close button to save the changes.

 

After that, the journal entry will be posted as a credit customer's profile. Then, follow these steps on how to apply it to the invoice:

 

  1. Open the invoice and click Receive payment under the amount.
  2.  In the Credits section, select the journal entry to apply it as a credit.
  3. Select Save and close.

 

Let me also share this article that you can utilize in reconciling your accounts effectively in the future: Reconcile an account in QuickBooks Online.

 

If you need further assistance managing your invoice in QuickBooks Online, don't hesitate to reach out. I'll be here to help. Stay safe.


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