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userinfo38
Level 1

Why is my reoccurring payment at $0. In the journal entry, there's $40.82 per month. It shows in journal entry.. When I save the template, it's "0".

I am using quick book online.
8 Comments 8
JessT
QuickBooks Team

Why is my reoccurring payment at $0. In the journal entry, there's $40.82 per month. It shows in journal entry.. When I save the template, it's "0".

Hi userinfo38, 

 

Thank you for posting your question. I'll help you check out the amount. However, I'd like to ask for more details to clarify the issue.

 

My take on this is you have a recurring payment, which is a journal entry. It turns into zero when saved or when it recurs? Is that right? Can you send us a picture of the transaction, so we'll have more details on the behavior? You can also explain a little bit about how the entries are created because it's quite strange if there's an amount and turns into zero when saved. There should be a transaction that makes it behave that way.

 

Thanks in advance.

userinfo38
Level 1

Why is my reoccurring payment at $0. In the journal entry, there's $40.82 per month. It shows in journal entry.. When I save the template, it's "0".

Hello, when I enter a journal entry it shows the correct reoccurring  amount .  
once I save the template , It shows zero. And it will not show up in any of my Financial  statements For the depreciation

userinfo38
Level 1

Why is my reoccurring payment at $0. In the journal entry, there's $40.82 per month. It shows in journal entry.. When I save the template, it's "0".

Hello, I don’t know if my last post post it or not. It’s a journal entry with qb online. When I do the journal entry amount is correct reoccurring every month. When I save the template it turns into zero.  When I go back into the journal entry the monthly payment is correct. It doesn’t even reflect The depreciation on any of my financial statements

userinfo38
Level 1

Why is my reoccurring payment at $0. In the journal entry, there's $40.82 per month. It shows in journal entry.. When I save the template, it's "0".

Hello, I don’t know if my last post post it or not. It’s a journal entry with qb online. When I do the journal entry amount is correct reoccurring every month. When I save the template it turns into zero.  When I go back into the journal entry the monthly payment is correct. It doesn’t even reflect The depreciation on any of my financial statements

userinfo38
Level 1

Why is my reoccurring payment at $0. In the journal entry, there's $40.82 per month. It shows in journal entry.. When I save the template, it's "0".

I’m trying to upload more photos I hope you’re able to get it

MaryLurleenM
Moderator

Why is my reoccurring payment at $0. In the journal entry, there's $40.82 per month. It shows in journal entry.. When I save the template, it's "0".

Thank you for the screenshots, userinfo38.

 

It helped a lot to determine what your concern is. A journal entry will show as zero since it offsets the amount.

 

Creating a journal entry balances your books in a way. You can create a journal entry for the following: 

  • Enter debits and credits manually, like in traditional accounting systems.
  • Transfer money between income and expense accounts.
  • Transfer money from an asset, liability, or equity account to an income or expense account.

I take it you're trying to record asset depreciation in QuickBooks Online? You'll want to consult your accountant to make sure you're doing it correctly. Here's an article for reference: Depreciate assets in QuickBooks Online.

 

Let me know if you have other questions I can be of help.

userinfo38
Level 1

Why is my reoccurring payment at $0. In the journal entry, there's $40.82 per month. It shows in journal entry.. When I save the template, it's "0".

Hello I did create turn on entry. It’s a straight line 3 years depreciation.   As you can see the journal entry.  When I save template it’s back to $0.

 

I already added this spa bed to fixed asset, have the original cost and have The depreciation  item. 
Is your customer service call. I feel this is a glitch

Kiala_S
QuickBooks Team

Why is my reoccurring payment at $0. In the journal entry, there's $40.82 per month. It shows in journal entry.. When I save the template, it's "0".

Good morning, @userinfo38! Thanks for reaching out with those screenshots.

 

The Journal Entry transaction will show as 0 amount since this offsets the debit and credit column. You can review the amount being posted by running the Transaction List by account report. Here are the steps:

  1. Go to Reports.
  2. Search for the Transaction Detail by Account report in the search box.
  3. Click on the Customize button.
  4. Click on the Filter drop-down and select Memo
  5. Click on the Run report button.

You're always more than welcome to request a call from one of our support agents. 

  1. Sign in to your QuickBooks Online company.
  2. Select Help (?) at the top right.
  3. Enter your concern, then select Let's talk.
  4. Select Contact Us to connect with a live support agent.
  5. Choose a way to connect with us:
    • Start a chat with a support expert.
    • Get a callback from the next available expert.

If you have any more questions, please don't hesitate to reach out again to this post. All of us are happy to help!

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