If you don't have a zero balance, double-check all of your debits and credits. Money transfer in the income and expense account. Share Improve this answer answered at 11:12 Keith Palmer Jr. The business rule is that the sum of all credit lines must equal the sum of all debit lines. This mirrors the behavior of the QuickBooks GUI. Complete the required fields for each column using the same method you used to create the debit.Ĭlick "Save & Close" when the transaction register reaches a zero balance. Importance of Journal Entry in QuickBooks Companys credits and debits. There could be multiple journal credit lines, and multiple journal debit lines, in a single JournalEntry object. Use the same value for the credit that you used for the previous debit. You must enter this information for Accounts Receivable and Accounts Payable accounts.Įnter a new transaction on the next line for the account receiving the credit for the transaction. Use a debit for a payment and a credit to indicate a deposit.Ĭlick the "Memo" field and type a memo, if desired.Ĭhoose the "Name" column and select the customer, vendor, employee or name for the transaction. that that transaction is tracked in, splits, debits and credits. Subsequent entries get numbered automatically in consecutive order.Ĭlick the "Account" drop-down menu and select the account you want to use to initiate a debit.Įnter the value of the transaction in the Debit column. Behind the scenes, QuickBooks creates a journal entry. Click the "Date" field and select the correct date for the ledger entry in the pop-up calendar.Ĭlick the "Entry No" field and enter in a value for the journal entry if a value doesn't already exist.
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