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Showing posts from May, 2025

How To Delete or Deposit In QuickBooks

QuickBooks is a powerful accounting tool used by businesses of all sizes to manage their finances efficiently. However, mistakes can happen, and you may sometimes need to delete or undo a deposit that was recorded incorrectly. Whether it's a duplicate entry, an incorrect amount, or a deposit that shouldn't have been posted, QuickBooks allows you to correct these errors effectively. In this guide, we will provide step-by-step instructions on how to delete or undo a deposit in both QuickBooks Desktop and QuickBooks Online , discuss important considerations, and answer frequently asked questions (FAQs) related to this process. Why You Might Need to Delete or Undo a Deposit There are several reasons why a user might need to delete or undo a deposit in QuickBooks: Incorrect Amount : The deposit was entered with the wrong amount. Duplicate Deposit : The same deposit was entered more than once. Wrong Customer or Account : The deposit was applied to the wro...

How to Create Journal Entries in QuickBooks Online?

What Is a Journal Entry in QuickBooks Online? A journal entry is a manual recording of a business transaction directly into the general ledger using double-entry bookkeeping. Each journal entry involves a debit to one account and a corresponding credit to another, ensuring the books remain balanced. In QuickBooks Online, journal entries are commonly used to: Record non-cash transactions Make year-end adjustments Allocate payroll costs Adjust asset depreciation Correct previous errors Unlike invoices or bills, journal entries are not tied to a vendor or customer but serve as direct general ledger updates. When Should You Use Journal Entries in QuickBooks? You should use journal entries in QuickBooks Online only when a transaction cannot be entered using the standard forms (like invoices, bills, or expenses). Some examples include: Depreciation or amortization entries Accruals and deferrals at month-end or year-end R...