Journal Entries
QuickBooks CanadaI have a dillema with my journal entries. When I debit a cash income account in order to decrease the balance what do I credit in order to show an addition to an expense?
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02/08/12 4:39pm PST
Viewed by asker 02/22/12 8:25am PST
Viewed by asker 02/22/12 8:25am PST
4 Replies
Michelle Long CPA
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02/10/12 8:57am PST
Best Answer - Chosen by the Community
You very rarely enter Journal Entries in QuickBooks.
You enter an Invoice or Sales Receipt for sales.
You enter a Check, Bill or Credit Card Charge for expenses.
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02/14/12 2:14pm PST
Thank you for your help. I now have the book for Quick Books and it does suggest that journal entries only be used to moved funds around the accounts.
02/17/12 1:26pm PST
Also, you wouldn't credit an expense account to increase the expense. That would do the opposite. Same with debiting an income account. Generally speaking you should not make ledger enteries if you do not have a basic understanding of accounting.
