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Join nowI went and reconciled an account and put my ending balance in before a payment was applied to the account. The payment then came through and so now my account is off by 369.84. I am not sure how to make a journal entry on how to fix this.
Thank you for posting here in the Community, @larrysrsp. I am happy to help you with this.
Journal entries are the last resort for entering transactions. Use them only if you understand accounting or you’re following the advice of your accountant to guide you on what account to debit and credit the amount. You can also find an accountant if you need one. As a workaround, I'd suggest using the regular journal entry.
Here's how:
Additionally, I've added an article that'll help you learn more about posting transactions accurately when creating journal entries: Debit vs. Credit.
Please keep us posted if you have additional questions about tracking and managing your entries. We want to make sure your books are accurate
I know I have to credit my loan that is what the account is but I am not sure of what the credit account would be
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