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Sheen Solutions
Jul 9, 2020 9:03 PM UTC
Question

Reclassification from Profit & Loss or Balance Sheet

Can someone help me  in doing reclassification from balance sheet. The owner uses own money to make purchases and the payment went to  cash in error instead of owners equity and reduces the cash balance in quickbooks.

2 replies

gayatriluthfias20
Jul 11, 2020 5:47 AM UTC

Hi @Sheen Solutions , i think you could make a reverse journal entry from the first journal that you make or delete it. See reverse and delete journal entry Then entry the right journal. 

Comment below for follow up question. Cheer.

gayatriluthfias20
Jul 11, 2020 5:51 AM UTC

I mean not reversing the first journal, but make a new reverse journal.

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