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February 23, 2021
Question

Can you do a partial journal entry and enter the rest of it later? I'm waiting to decide what accounts need to be set up.

  • February 23, 2021
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1 reply

Rebecca R
February 23, 2021

Hello userpam.stevens,

 

Journal entries are used for a variety of reasons. They may be required to transfer money between accounts, or for manually entering debits and credits, similarly to how it was done in traditional accounting systems. Entering a journal entry using QuickBooks Online is a straightforward process, let me go over it with you in order to clarify whether or not you can enter a partial entry.

 

You'll want to follow these steps to Create a journal entry in QuickBooks Online:

 

  1. Hit the + New button.
  2. Choose a Journal Entry from the Other column.
  3. For the first line, choose an Account and enter an amount in either the debit or credit column.
  4. Choose the other Account that you're moving money to or from in the second line and enter the same amount as the previous line in the opposite column. For example, if you entered line one as a debit, enter line two as a credit.
  5. Ensure that the amounts balance out. If you have multiple lines you just want to ensure that the debit and credit columns are equal.
  6. Enter any relevant details in the Memo field.
  7. Hit Save and new or Save and close

 

Since you need to have a balancing amount in the Debits and Credits columns, you won't be able to enter part of a Journal Entry in order to complete it later. If this is a multi-lined entry and you have multiple lines that will balance, you can enter those amounts and come back to edit the entry later to include additional lines. However, a two-lined journal entry won't save without equal amounts in the Debits and Credits column.

 

If you enter the journal entry incorrectly in order to save a portion, you can always use the Magnifying Glass icon in order to locate the entry again and make changes. You can also locate it by viewing the Account History for the one of the accounts used in the Chart of Accounts. You'll just need to click the transaction to open and edit it. 

 

The easiest option in this case is to make note of the portion of the Journal Entry that you're sure about, and when you've determined the remaining account details you can enter the entire entry at once rather than split it up into two sessions. 

Let me know if you have other questions or if there's more I can do to clarify. Take care!