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7eprinting25-gma
Level 1

How do I make a transaction in the general journal

I have a customer who bought goods how is the transaction recorded
1 Comment 1
GebelAlainaM
QuickBooks Team

How do I make a transaction in the general journal

Welcome to the Community space, 7eprinting25.

 

I'll ensure to provide steps to record sales transactions in QuickBooks Online (QBO).

 

In QBO, you can record sales transactions in two ways. If your customer paid for the product or service at the time of the sale, you can create a sales receipt, which completes the transaction and records it in your books. But if your customer plans to pay you in the future, you can create and send them an invoice.

 

Here's how:

 

  1. Click on the +New button.
  2. Select Invoice.
  3. Enter all the necessary details of the invoice. Like the customer's name, the items, and more.
  4. Then, if everything is good and you're ready to send it to your customer, click Review and Send.

 

For more details, please refer to this article: Create invoices in QuickBooks Online.

 

Additionally, when the customer makes a payment on the invoice, you need to record the payment in QuickBooks to link the payment transaction to the original invoice so your accounts stay balanced.

 

On the other hand, if you want to create a journal entry to enter debits and credits for the said transaction, I've got some steps on how to do that. Before you proceed, you'll need to consult with your accountant for further guidance to ensure the accuracy of your books.

 

  1. Click on the + New and select Journal entry.
  2. On the first line, select an account from the Account field. Also, depending on if you need to debit or credit the account, enter the amount in the correct column.
  3. On the following 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.
  4. Review the amounts - make sure the Credit column on one line and the Debit column on the other have the same amount. It means the accounts are in balance.
  5. Add information in the memo section to know why you made the journal entry.
  6. Then, hit Save and close.

 

For additional details, check this article: Create journal entries in QuickBooks Online.

 

If you want to run a journal or other financial report to give you a snapshot of your business, you can refer to this article for future reference: Run reports in QuickBooks Online.

 

Keep me updated in the comment section if you have follow-up queries in recording your sales transactions. I'll be right here to help you always.