Hi there, gp_s_1.
It's a delight to see you in the Community today. I have some information to share with you about recording journal entries in QuickBooks Desktop
There are a few different reasons why customers create journal entries to record specific transactions. You can use it to manage your accounts in a traditional system of accounting using debits and credits.
It can also help transfer amounts from one income or expense accounts to another. As well as entering miscellaneous transactions to complete year-end activities.
Because of these, you need to enter the journal entries manually regardless of the type of transactions you create. The option to automatically report the HST/HST (Input Tax Credit) through a journal entry is currently unavailable.
Here's how to create:
- From the QuickBooks Company menu, choose Make General Journal Entries.
- Select a date in the Date field.
- The Entry No. should automatically populate. Otherwise, type it in manually.
- Enter some necessary details.
- Click Save and Close.
For a more detailed information, check out this article:
Record a journal entry
If you're uncertain as to which accounts to select, please refer to your accountant. They can provide further guidance in creating journal entries and ensuring your books is accurate come tax time.
These steps should keep you going in recording your transactions. If you have questions with the process, feel free to let me know. I'll keep an eye on your response.
