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C
ChrisS2
February 18, 2020
Solved

automatic journal entries for prior period

  • February 18, 2020
  • 4 replies
  • 0 views

On QBDT (2017)  when voiding a check from a prior period, a popup used to appear giving the option to automatically create JE's (in prior pd and a reversing JE in current).  It no longer pops up.  I've searched extensively and contacted support yesterday but no luck.  Any ideas?

 

FYI, in Company Preferences, a closing date has been set, including use of a password.  I've also tried resetting the one time messages, but it still doesn't appear.

 

(BTW, I'm clear on how to handle with manual journal entries, but would like to use the automated feature again, if possible.)

 

Thanks much!

    Best answer by MJoy_D

    The pop-up message will only show if the check is coming from a closed period and if it's associated with an expense, @ChrisS2.

     

    However, if the check you're trying to void is associated with non-expense accounts or items, you'll not be prompt to create journal entries. These are checks using items, bill payments, paychecks, payroll liability payments, and sales tax payments. 

     

    For more information, go to the Help menu at the top and search voiding a check in a closed period. Also, see this article on how to create a journal entry in QuickBooks Desktop.

     

    I'm always here if you still have questions about your account. Have a wonderful day!

    4 replies

    MJoy_D
    MJoy_DAnswer
    February 18, 2020

    The pop-up message will only show if the check is coming from a closed period and if it's associated with an expense, @ChrisS2.

     

    However, if the check you're trying to void is associated with non-expense accounts or items, you'll not be prompt to create journal entries. These are checks using items, bill payments, paychecks, payroll liability payments, and sales tax payments. 

     

    For more information, go to the Help menu at the top and search voiding a check in a closed period. Also, see this article on how to create a journal entry in QuickBooks Desktop.

     

    I'm always here if you still have questions about your account. Have a wonderful day!

    C
    ChrisS2Author
    February 18, 2020

    Fantastic! Thanks for clarifying.

    B
    Baxter2016
    March 16, 2020

    Chris 52

    Could you review the JE's needed to void a prior period check and reissue it?  I can't find the instructions since the auto option disappeared.  The check I need to void only affects expense accounts, so I'm not sure why the pop up is not appearing.  Thank you!

    J
    JMBanker
    June 17, 2022

    The "solved" answer did not do a great job at explaining what a check associated with an expense means.  Check associated with an expense means you write a check only, instead of entering a bill then pay that bill.  So, if you enter a bill, you must go to pay bill to generate the "check".  This "check" is called a bill payment.  So, if you have a bill payment check, then the auto feature will not work.

     

    On the other hand, if you go directly into "write checks", then you are associating an expense directly with that check.  Therefore, the auto feature would work.

     

    I hope this helps.

    Rejeil_O
    Rejeil_O
    March 16, 2020

    Welcome to QuickBooks Community @Baxter2016,

     

    When you void a check transaction, you'd be prompted with an option of whether an automatic journal entry will be created for it. You'd see this once you click the save and close button.

    If you click Yes, the Journal Entry will automatically be created, and once you click No, just void the check you'll want to enter the Journal Entries manually.

    To review the journal entries account, you can run the Journal reports. Here's how: 

    1. Go to the Reports menu.
    2. Select Accountant & Taxes.
    3. Choose Journal.

    In case you need help on how to customize a report, just go to this link: Customize reports in QuickBooks Desktop.
     

    If you have any other concerns, please don't hesitate to drop a comment below. I am here to help.

     

    A
    ask1
    June 4, 2020

    Dear team,

     

    I want to know weather quickbooks creates automatic journal entries for every banking entry that we do.

    (By banking entry I just mean, when a transaction appears as 'IN REVIEW' and I just enter it into 'QB'.

     

    Secondly, if it does, are these journal entries as per the double entry method of book keeping.

     

    Thanks.... as I am not from accounting background and a software user/owner.

     

    Appreciated.

    MJoy_D
    MJoy_D
    June 4, 2020

    Hello, @ask1. 

     

    If the transaction is still in the For Review tab, there's no entry yet in QuickBooks Online (QBO). It'll create a transaction once added to your account. This is now a Transaction Journal that has a double-entry method of accounting.

     

    You can click on the Add button so the transaction will be added to the register and moved from the For Review tab to the In QuickBooks tab.

     

     If there are existing records that match the downloaded transaction/s, you can click Find match to review the matched transactions.

     

    To know more about downloading and reviewing transactions, check the following article: Categorize and match online bank transactions in QuickBooks Online. 

     

    Here's an extra link that can help you out in the future: Unmatch or move bank transactions after reviewing them. 

     

    Let me know if there's anything you need assistance with. I'm a few clicks away to help. Have a good day!

    J
    JB205
    October 7, 2020

    ChrisS2 - did you ever figure out how to get that pop up to come back and do automatic JEs for prior period void checks?

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