Sales and other types of transactions are entered in QuickBooks using journal entries. Users have the option to edit or modify the entries following their professional requirements. There may also be instances where you need to view the journal entry that was cut off in the audit log.
The article explains how to see journal entries in QuickBooks online and desktop and online versions of QuickBooks. But before we get to the crux of the subject, let’s take a step-by-step approach to understanding journal entries in QuickBooks.
- Why are journal entries important?
- How Do I Make a Journal Entry in QuickBooks Online?
- What Goes Into a QuickBooks Journal Entry?
- How do I use and gain access to the Transaction Journal?
- How to get access to Transaction reports in QuickBooks Desktop?
- How do I keep track of my most recent activities and transaction history in QuickBooks?
Why are journal entries important?
Although it was designed with accountants in mind, anyone who is familiar with dual-entry accounting can use it for
- Calculations, in-depth analysis, or auditing needs.
- Spot transactions that are no longer in balance.
- Identify unusual entries for accounts on other reports.
- Document all business transactions, both digital and physical.
- Transfer funds back and forth between the accounts for income and expenses.
- Transfer funds from an equity, liability, or asset account to an account for income or expenses.
- Deliver important data that auditors can use to analyze how financial activities impact a corporation.
How Do I Make a Journal Entry in QuickBooks Online?
A journal entry is only accessible to you once it is created. Consequently, let’s look at how to enter a journal entry in QuickBooks online step by step.
- First, look through the journal entries feature in QuickBooks Online to get started creating journal entries. Then add the following entries in the required field –
- Date and journal number after that. Be very careful as you do this.
- Relevant accounts to the applicable category column next.
- Debit and credit transactions
- Description of the journal post to finish the task.
Each transaction’s debits and credits are shown in the Transaction Journal Report, which also offers a more detailed look at amounts and accounts that aren’t readily apparent from the transaction itself.
What Goes Into a QuickBooks Journal Entry?
A journal entry must have the elements listed below:
- A header containing the date of the entry.
- Reference number or journal entry number.
- the debit and credit transactions
- Summary of the journal entry in the footer.
How do I use and gain access to the Transaction Journal?
Depending on the type of transaction, there are different ways to access the Transaction Journal. There will always be at least one option that applies.
To know how to view general journal entries in QuickBooks desktop and online use one of the following techniques:
- Choose Reports from the transaction toolbar, then choose Transaction Journal.
- Navigate to the QuickBooks Reports menu, and then choose Transaction Journal.
- Use the keyboard shortcut Ctrl+Y for Windows.
- On a Mac, hit Cmd+T.
You should keep the following in mind when using and viewing the transaction log.
- Accrual only: To showcase all of the value of each deposit to the accounts, the summary is displayed as an accrual.
- Current form: Transaction Journal will only show details for the recent/current transaction form.
- Customizable: The Transaction Journal can be customized just like any other summary report. Adding and removing columns and categories is possible.
- Sort order: The Transaction Journal summary cannot be ordered; it will always show the transaction’s entering sequence.
- Source & Targets: The source line appears at the head of the Transaction Journal, and each item that follows it is the target.
- Non-posting: Transactions that don’t post to the ledger (like sales orders, estimates, and purchase orders) will show the debits and credits associated with each account as if they were a posting entry.
How to get access to Transaction reports in QuickBooks Desktop?
View and Restore the Journal Entry from Audit Log
There’s no way to get a transaction back once you’ve deleted it. However, you can retrieve the information from the deleted transaction’s audit log and re-enter it.
Here is how to find and enter any deleted transactions again:
- Navigate to Settings.
- Choose Audit Log.
- Choose the appropriate user, date, and event(s) from the Filter dropdown menu.
- Choose Apply.
- Track down the deleted transaction. (Tip: To readily find deleted transactions, use the browser search Ctrl + F and type “deleted“).
- Go to the History column and choose View.
- Under the Event column, you’ll find all the data you need for the transaction.
- You can re-enter the transaction with its original transaction date by using the details from the Audit log.
Note: Only transactions that were saved will appear in the Audit Log. For deleted transactions, no report is available. Instead of erasing a transaction from your records, try voiding it.
You can now re-enter deleted transactions using the audit log.
How do I keep track of my most recent activities and transaction history in QuickBooks?
To keep track of recent QuickBooks changes:
- In the top right corner, select Audit Log by clicking the gear icon.
- In the Audit Log, employ the Filter button to narrow down your search.
- Select the filters you want to use, then click Apply. You will see a list of your most recent activities.
You may learn how to view all journal entries in QuickBooks desktop and online in addition to following the procedures described above:
1. Select the Create (+) button located in the top right corner.
2. Choose Journal Entry.
3. Select the icon in the top left corner with the counterclockwise arrow.
4. Select “View More.”
5. You can view journal entries here and use the filters to find the information you want.
Learn how to view past journal entries in Quickbooks online and on desktop:
- Click “more” after opening the Journal Entry form (create + sign > other > Journal Entry) in the upper left corner.
- For recent journal entries, click the “clock” icon.
- View the screenshot.
- The built-in “Journal” report in QBO can also be printed.
- Click the Customize button, sort transaction type by journal entry, and run the report.
The journal entry is a crucial component of QuickBooks. You can now log numerous transactions effortlessly and submit them directly to the general database. Use the aforementioned techniques if you need to know how to view journal entries in QuickBooks desktop and online, even those that have already been created or deleted.
We have mentioned how to view journal entries in QuickBooks online by using the Advanced Search, Audit Log, and Reports menus. You should now be able to understand the details; if you’re still confused, speak with a QuickBooks specialist.
Frequently Asked Questions
Click the Plus (+) symbol in the top-right corner of the home screen. Select Other, then click Journal Entry.
Choose Settings, then click Chart of Accounts. Next, select Account History. To widen the view, choose the relevant journal entry. Then choose Edit.
Select Reports from the transaction toolbar before selecting Transaction Journal. Select Transaction Journal from the QuickBooks Reports menu.
Yes, you can take advantage of the search feature to look for certain Journal Entries.
Ctrl+Y on the keyboard for Windows. Cmd+T on the keyboard of a Mac.
QuickBooks offers a variety of journal entries that can be viewed, including General Journal Entry, Recurring Journal Entry, Adjustment Journal Entry, and more.
Activate the +New icon. Choosing a journal entry. Press the History button. You can click View More or choose the transaction you wish to alter.
Activate the Gear symbol. A chart of Accounts should be chosen. Find the account where the journal entry transaction is located.
Access the list of Journal Entries, register a new account, and view transactions.
To access the list, press Alt + the down arrow. To navigate the list, press the up or down arrows, or start typing the first letter of the transaction type.