journal entries

GDANIELS · ‎January 30, 2019

I just made several adjusting journal entries in QB for 2017. However, they aren't being reflected in the 2017 Financial Statements. Is there something preventing these from posting now that it's 2019?

HoneyLynn_G · ‎January 30, 2019

Hello there, @GDANIELS.

Thank you for posting here in the Community. I can share some reasons why the journal entries aren't reflecting on the 2017 Financial Statements.

If the two accounts that you are using are set up as A/R or A/P type accounts and the transactions are not "paid" or matched off, then they won't show up on a cash/accrual basis profit and loss statement. Also, if an A/R or A/P account is in the first line of the journal entry, they will not post correctly to those sub-ledgers and therefore cause problems on a cash/accrual basis report.

Make sure that the payment transactions has the 2017 date for them to be included on your financial statement.

That's it. Let me know if there's anything else you need or you have follow up questions. Just click the "Reply" button. Have a good one.

View solution in original post

HoneyLynn_G · ‎January 30, 2019

Hello there, @GDANIELS.

Thank you for posting here in the Community. I can share some reasons why the journal entries aren't reflecting on the 2017 Financial Statements.

If the two accounts that you are using are set up as A/R or A/P type accounts and the transactions are not "paid" or matched off, then they won't show up on a cash/accrual basis profit and loss statement. Also, if an A/R or A/P account is in the first line of the journal entry, they will not post correctly to those sub-ledgers and therefore cause problems on a cash/accrual basis report.

Make sure that the payment transactions has the 2017 date for them to be included on your financial statement.

That's it. Let me know if there's anything else you need or you have follow up questions. Just click the "Reply" button. Have a good one.

qbteachmt · ‎January 31, 2019

It depends on what you put on the JE: you avoid them for anything where Names are in use. You avoid them for AP, AR, QB inventory, QB sales, Sales taxes, QB payroll.

They Post when you Save them. Their Date controls which Year they affect. The Reports you run controls what you see, where and why.

So, what is Adjusted, and which Accounts were used, and what is the Date on the JE, and which Reports are you using?

ehmgroup · ‎February 14, 2020

HoneyLynn

Can you please explain to me why this is happening. Is this a software issue? I thought my 2019 QBDT had glitches in it so I upgraded my client to 2020.

I have been using this software since the stone age and this has NEVER happened before.

Thank you
Evan

Michael K · ‎February 14, 2020

Hey there, @ehmgroup.

Hope you're having a wonderful Friday. I've checked and I'm not seeing any reports of an issue with journal entries in QuickBooks Desktop. I recommend double checking the dates and accounts you posted to so that you can ensure they are posting to the correct date. I also recommend checking the information my colleague provided above to ensure that's all set, as well.

I also recommend reaching out to an accountant to ensure everything goes smoothly. They have the knowledge and expertise to know what could be going on in detail with those specific transactions and get you back to business. If you don't already have an accountant, you can find one here: Find an Accountant

Use the Reply button below if you have any further questions. I'll be here for you. Have a great weekend!

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