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C
CDB-too
September 9, 2022
Question

Transaction Date vs Entry Date

  • September 9, 2022
  • 1 reply
  • 0 views

I have recently transitioned to QBO from QBDT.  In QBDT I could run a report to show all of the Journal Entries entered today regardless of the transaction date. This is required as I have to enter multiple Journal Entries as provided by the theatre management software in order to update the Revenue side of the theater in QBO.  QBO is used mainly to record and pay our bills and to provide end of year reporting to our auditor.

 

Most of my J/E batches do not run from midnight to midnight, and so it is not uncommon for me to have entries for a given calendar date split over to J/E batches. In QBDT I had a Journal Entry Log Report that showed all transaction entered on today's date.  In QBO, I can only find a field to look at the transaction date, which skews the report by including transactions from my previous J/E batch.

1 reply

LeithG
LeithG
September 13, 2022

Hi CDB

From an accounting standpoint, the entry-date is irrelevant to the process.  If you consider one-evening's worth of sales (tickets, concessions, etc.) to occur on the night it begins, the transaction date should be entered as such.

 

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