Recording a Journal Entry

Legacy KB ID: 1757

Question

How do I record journal entries in Reckon Accounts?

Answer

In Reckon Accounts, journal entries are made in the General Journal Entry window. This option is available for accountants or people who prefer the traditional system of accounting in which transactions are entered into a general journal. If you are not an accountant, you might use the general journal to transfer amounts from one income or expense account to another, or from one class to another.

In order to complete your year-end activities, your accountant may instruct you to record miscellaneous journal entries in Reckon Accounts. Your accountant can provide you with specific information if this step is necessary.


Note: When making journal entries in Reckon Accounts, you need to know which account receives the debit and which account receives the credit side of the transaction.


Follow these steps to record a journal entry:

  1. From the QuickBooks Banking menu, choose Make Journal Entry.
  2. In the General Journal Entry window, change the Date field, if desired.
  3. If you number your general journal entries, enter the number in the Entry No. field.  
  4. In the detail area, enter distribution lines:
    1. In the Account column, enter or select the first account in your transaction. If you are using an A/R (accounts receivable) or A/P (accounts payable) account, the first account in the general journal transaction should be the accounts receivable or accounts payable account.
    2. In the Debit (or Credit) column, enter the debit (or credit) amount for the account you selected in the previous step.
    3. (Optional) Enter a memo about the amount in the Memo column. The memo appears on reports that include the general journal entry.
    4. Enter or select the customer, vendor, employee, or other name associated with the transaction in the Name column (required for A/R or A/P accounts.)
    5. (Optional) If you selected an expense account along with a customer or job, you can make the amount billable to the customer. To avoid billing the customer for an expense, click the billable icon to put an X through it.
    6. (Optional) Assign a class to the amount.
    7. Repeat Steps 4a through 4f to enter distribution lines until the transaction reaches a zero balance (that is, the total in the Debit column equals the total in the Credit column).
  5. Click Save & Close to save the journal entry and close the window, or Save & New to save the journal entry and create a new one


Need more help?

Ask the Reckon Community at: https://community.reckon.com/categories/reckonaccounts

Or Log a Support Ticket: https://www.reckon.com/au/support/

How did we do?

Reckon Accounts Desktop: The Transaction is not in balance error in General Journals

Transaction Journal shows an account entry assigned to a Customer:Job

Related Articles

Entering Bank Fee and Interest Charges in QuickBooks QBi
Entering Bank Fee and Interest Charges in Reckon Accounts
How do I Print a single journal entry
Powered by HelpDocs (opens in a new tab)

Powered by HelpDocs (opens in a new tab)