If you're using QuickBooks Online to manage your business finances, understanding how to view and manage journal entries is essential. Journal entries allow you to adjust your financial records, ensure accuracy, and correct any errors that might arise in your accounting. In this step-by-step guide, we’ll walk you through how to view journal entries in QuickBooks Online, how to create and edit them, and best practices for managing your entries.

What Are Journal Entries in QuickBooks Online?

Journal entries are manual records of financial transactions that don’t automatically appear in your QuickBooks Online account. They’re typically used for adjustments, corrections, or recording transactions that don’t happen frequently, like depreciation, accrued expenses, or transfers between accounts.

In QuickBooks, journal entries record debits and credits, helping keep your balance sheet and other reports accurate. Let’s dive into how you can view and manage these entries easily in QuickBooks Online.

Step 1: Access the Journal Entries List in QuickBooks Online

To begin, you need to navigate to where your journal entries are located. Here’s how:

Log in to QuickBooks Online: Start by logging into your QuickBooks Online account with your credentials.
Go to the Reports tab: On the left-hand sidebar, click on "Reports." This will take you to a section where you can view different financial reports.
Search for Journal Report: In the search bar at the top of the Reports page, type "Journal" or "Journal Report." Select the "Journal" report option when it appears in the dropdown menu.
Customize the report: Once in the Journal Report, you can filter the report by date, transaction type, or account to narrow down the journal entries you’re looking for.
View your journal entries: After customizing the report, click "Run Report." You’ll now see a list of journal entries based on your chosen criteria.

This simple process gives you access to a complete list of journal entries, allowing you to keep track of any manual entries made in your financial records.

Step 2: How to Create a Journal Entry in QuickBooks Online

Now that you know how to view journal entries in QuickBooks Online, you might need to create a new entry at some point. Follow these steps to create a journal entry:

Go to the + New Button: On the left-hand side of your QuickBooks dashboard, click the "+ New" button.
Select Journal Entry: From the dropdown menu, choose "Journal Entry." This will open a blank journal entry form.
Enter the details:

Date: Choose the date for the transaction.
Account: Select the accounts to debit and credit. Ensure that the debits and credits balance out.
Description: Add a description to explain the reason for the entry. This helps in understanding why the journal entry was made later on.

Save and Close: Once you've entered all necessary information, click "Save and Close" to record the journal entry.

Creating journal entries helps in adjusting account balances or correcting errors that occurred during automatic transaction recording.

Step 3: How to Edit or Delete a Journal Entry in QuickBooks Online

Mistakes can happen, and sometimes you'll need to edit or delete a journal entry. Here's how you can make changes to an existing journal entry in QuickBooks Online:

Go to the Reports Tab: Navigate to the Reports tab as described earlier.
Access the Journal Report: Search for and open the "Journal" report.
Find the entry you want to edit: Browse through the list or use filters to find the specific journal entry that needs editing.
Click on the Journal Entry: Once you find the entry, click on it to open the detailed view.
Edit the Entry: Make any necessary changes, such as adjusting the date, amount, or accounts. Once finished, click "Save and Close."
Delete the Entry: If you need to delete the entry altogether, click on "More" at the bottom of the transaction and select "Delete." Confirm the deletion when prompted.

Best Practices for Managing Journal Entries

Managing journal entries effectively can improve your bookkeeping accuracy and prevent confusion. Here are a few tips:

Double-check Debits and Credits: Always ensure that your debits equal your credits. An imbalance can lead to issues with your financial reports.
Use Descriptions: Always add clear and detailed descriptions for each journal entry. This helps you or other team members understand the purpose of the transaction when reviewing it later.
Run Regular Reports: Regularly run your journal report to review manual entries. This can help catch any potential errors early on.
Limit Journal Entries: Only use journal entries for transactions that cannot be handled through normal QuickBooks functions. Too many manual entries can make your accounting more complicated than necessary.

Step 4: Exporting and Printing Journal Entries

QuickBooks Online allows you to export or print your journal entries, which is useful for sharing with your accountant or keeping offline records. To export the report:

Run the Journal Report: Follow the steps from Step 1 to run your journal report.
Export or Print: Once the report is generated, click on the "Export" button at the top right corner. You can choose to export the report as an Excel or PDF file. Alternatively, you can click on the "Print" button if you need a physical copy.

Conclusion

Knowing how to view journal entries in QuickBooks Online is a critical part of keeping accurate financial records and ensuring your books balance. Whether you need to review past entries, create new ones, or make corrections, QuickBooks Online offers an intuitive interface that makes the process smooth.

If you're looking to simplify your journal entry process even further, consider using tools like Saasant, which can help streamline bulk entry creation and management. This can save you time and reduce errors, making your accounting even more efficient.

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