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June 4, 2022
Question

I need to adjust my income on my 2021 p& L?

  • June 4, 2022
  • 1 reply
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How do I adjust my income on my 2021 P & L?

1 reply

June 4, 2022

Hello there, @thenotarydoctor.

 

I'm here to assist you how adjust your income in Quickbooks Online.

 

Journal entries are used as a last resort for recording and adjusting transactions. They allow you to transfer funds between accounts and force your books to balance.

 

Here are a few reasons why you should keep a journal:

 

  • Manually update debits and credits, as in traditional accounting systems.
  • Money transfer between income and expense accounts.
  • Money transfer from an asset, liability, or equity account to an income or expense account.

Please refer to this article if you for the detailed instruction: Create a journal entry in QuickBooks Online.

 

Furthermore, if you want to correct transaction one at a time or correct accounts associated with items, I suggest to invite an accountant in your QuickBooks Online. They can help you in reclassifying transactions. 

 

Here's how to invite them:

 

  1. Sign in to your QuickBooks Online company.
  2. Click on the Gear Icon > Manage Users.
  3. Go to the Accounting Firms section.
  4. Enter your accountant's email address and first/last name (optional).
  5. Click Invite. They will receive an email with a link for signing in to your company.
  6. They will be asked to create a user ID before signing in the first time unless they already have an account with Intuit Business Services.
  7. Until your accountant signs in, their status on the Manage Users page is "Invited." After accepting the invitation, their status changes to "Active."
  8. Click Next and Finish.

 

Check this article on how to Managing accountant users in QuickBooks Online

 

You are always free to come by for additional concerns about adjusting your reports. I just right here to drop some help. Have a great day!