How to make a journal entry in Quickbooks

Making a journal entry is a fundamental task in QuickBooks, the popular accounting software that helps your business manage its finances. This step-by-step guide walks you through the process.

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1. Log in to QuickBooks

To begin, log in to QuickBooks Online in your browser or open the desktop program.

2. Go to the journal entry screen

This step differs slightly between the two QuickBooks versions:

• Online: Choose the + New button; under the Other section, select Journal Entry
• Desktop: On the Company menu, choose Make General Journal Entries

3. Enter the journal entry date

Enter the transaction date at the top of the QuickBooks journal entry form. For accurate recordkeeping and financial reporting, this should reflect when the transaction actually occurred.

4. Choose an account

Select the account that matches your transaction from the drop-down menu. This could be accounts receivable, accounts payable, or any account type in your chart of accounts—an expense account, equity account, asset account, accumulated depreciation account, etc.

5. Enter debits and credits

Debits and credits are the two sides of a journal entry that ensure the accounting equation remains balanced. Enter the appropriate amounts in the debit column and credit column based on the specific account and transaction. The total debit and credit amounts must be equal.

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6. Include a description

Describe each transaction in the Description field to provide background for future reference.

7. Assign names (optional)

If necessary, you can assign the transaction to an employee, customer, or vendor in the Name field.

8. Review your journal entry for accuracy

Make sure the debits and credits match and the details are correct.

9. Save your journal entry

Once you’ve entered all the necessary information, save and close if you have no other entries to create, or select Save then New if you’d like to create another one. Either way, you’ve recorded your entry, and it will be accessible whenever you need to review it.

10. Verify your journal entry

Check the chart of accounts or run a general ledger report to ensure your entry is accurate.

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Making journal entries in QuickBooks is essential for maintaining accurate financial records. By following the above steps, you can ensure that your journal entries are correct and properly recorded.

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Streamline your accounting system: Integrate QuickBooks with Ramp 

Following these steps, you can accurately create journal entries in QuickBooks Desktop and ensure your financial records are complete and organized. However, making journal entries manually can be time-consuming and prone to errors. Consider integrating Intuit QuickBooks with Ramp, an all-in-one financial platform that can help streamline your accounting and bookkeeping processes.

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Integrating QuickBooks with Ramp simplifies and speeds up the process. Ramp automatically syncs your transaction data with QuickBooks, categorizing expenses and matching them to the correct accounts.

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With real-time data syncing and automated reconciliation, you can streamline your accounting workflow and close your books faster—all without the hassle of manual journal entries.

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Learn more about Ramp’s no-code QuickBooks integration.