Unable to make Journal Entries to Account Year 2017

Unable to make Journal Entries to Account Year 2017

QuickBooks software is as susceptible to errors as any other powerful software in the accounting software market. One of the errors faced by many users, especially when they have started using QuickBooks recently is that of issue in recording Journal Entries. In order to resolve this problem following details have been passed on by Intuit itself.

Under QuickBooks Desktop 2017 user can employ Journal Entries for following purposes:

  • Record transactions in the conventional way of tracking business finances by using debits and credits in a Ledger or General Journal.
  • Relocating cash from an income and expense account to another.
  • Relocating cash and amount from an equity, asset or liability account to expense or income account.
  • Transfer from one class to another of the amount.
  • Record diversified transactions to conclude year-end tasks, report and activities.

NOTE:

  • If you want the journal entry information to show in the Vendor (Supplier in the UK) or Customer Center, the entry impacting the customer or vendor must be on the first line of the journal entry. You cannot have multiple customers and/or vendors on a single journal entry and have the detail show in the Customer or Vendor center.
  • You will see additional features on the Make General Journal Entries window depending on the QuickBooks Desktop edition you are using.
    • Premier: Debit and Credit Totals
    • Enterprise and Accountant: Debit and Credit Totals and List of Selected Journal Entries

In order to successfully create a journal entry follow the instructions below:

When recording journal entries, user needs to know which account reflects the debit and which the credit side of the entry. It is recommended that user consult their accounting or financial professional for advice before generating journal entries. The steps to do so are:

  1. Go to main menu of QuickBooks software and select the option labeled ‘Make General Journal Entries’ from the list.
  2. Under the new screen called ‘Make General Journal Entries’, make appropriate changes for the field of Date.
  3. This should automatically fill up the entry no. field. If not, then the user will need to type in the number for their journal entries, which will result in QuickBooks Desktop automatically being numbered with similar journal entries.
  4. Enter the details of the General Journal Entry through following steps:
    • User needs to enter or select the first account in their transaction. If they are using an A/R (accounts receivable) or A/P (accounts payable) account, the first account in the General Journal transaction should be the AR or AP account.
    • Enter the debit or credit amount for the account user has selected in step ‘a’.
    • Type a memo describing the transaction. This memo will appear on reports and will include the General Journal entry.
    • Enter or select the Customer, Vendor/Supplier, Employee, or Other name associated with the transaction. This is required if user is employing A/R or A/P accounts.
    • If user has selected an Expense account along with a customer or job, they can make the amount billable to the customer by checking the Billable column.
    • Assign a class to the amount.
    • Repeat steps from ‘a’ to ‘e’ in order to enter distribution lines until the transaction reaches a zero balance. The total in the Debit column should be equal to the total in the Credit column.
  5. Click on ‘Save & Close’ tab to save the journal entry and close the window or select ‘Save & New’ to save the journal entry and create a new one.

The above steps should resolve the issue of recording journal entries into the software without any hassle. If the user still faces the same issue they should immediately get in touch with QuickBooks tech support team set-up by Intuit in order to  help users get instant support for their issues with QuickBooks software.

Leave a Reply

Your email address will not be published. Required fields are marked *