I have had to enter a bunch of old
reciepts in QB, so i put them in as a journal entry...per my accountant father...but i don't know how to check that the account balances after the journal entries are put in. can someone please advise?
You need to be more clear with your question...some info is missing.
Seoas:
here is the longer version of what i posted. i started this job on March 8th...and my boss went out and bought quick books to use for his small LLC business. I have a degree in Education but had a baby so i took a year off work, then was asked to do this job by a friend. I have no prior knowledge on how to do accounting, unless you count balancing my checkbook and paying bills...so sometimes it's hard for me to navigate around in QB.
as i said earlier, i started on march 8th..and started using QB on march 8th and had to go back and enter in reciepts from jan. 1 up until then...and some of those receipts were paid for in cash, and as far as i can see, there is no way to enter those receipts in as cash without it coming out of your bank account, which would throw off the balance in QB and the actual balance of the bank account...because i don't have the checking account info to go all the way back to jan 1, i had to start the bank account in QB from March. so, my dad, who is a controller with a MBA, told me that i should enter those reciepts in as journal enteries.
I do realize that when you enter in a journal entry you credit one account and debit another, therefore making it balance, but i don't know where to find some kind of report that i can print out to show this. I'm sure there is one in the reports menu, but as i also said earlier, i don't know much about accounting so i don't know what kind of report to look for. if you could give me the name of the report that shows journal entries that would be REALLY helpful. :) i hope you have all the info you need...thanks for the help.
