How to enter a general journal entry

How to enter a transaction that doesn't involve the normal cash, credit cards, or bank accounts. I.s. a general journal entry.

Best Answers

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Accepted Answer
    Hi @jtduke44,

    I think it needs to be noted that the above advice will NOT accomplish what you stated you wanted to do - namely jtduke44 said:
    ... debit an expense account TBD.
    Rather than using a [Account Name] as the category - you should be using an expense category such as "Equipment expense", or something similar.

    Let me know if you have any follow-up questions.  And don't forget to salute the "General Journal"  (old accountants' joke).

    Frankx


                           Quicken H&B-Subscription - Windows 10 Home - Ver. 2004
                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -

Answers

  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    There's no such thing, in Quicken, as a General Journal ... ergo no "General journal entry".
    If you tell us what you're trying to do, we can probably tell you how to do it in Q.
    Q, like a general journal, IS a true "double entry" accounting system.  When you specify the category (or account) that's the other side of the transaction, Q will automatically make the "offset entry" into that account or register.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • jtduke44
    jtduke44 Member
    I'm trying to remove a item from the list of fixed assets which was both purchased and then scrapped for zero value last year. No depreciation was taken. I want to credit my Improvements account for a rental property (where it currently sits) and debit an expense account TBD.
  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Accepted Answer
    Hi @jtduke44,

    I think it needs to be noted that the above advice will NOT accomplish what you stated you wanted to do - namely jtduke44 said:
    ... debit an expense account TBD.
    Rather than using a [Account Name] as the category - you should be using an expense category such as "Equipment expense", or something similar.

    Let me know if you have any follow-up questions.  And don't forget to salute the "General Journal"  (old accountants' joke).

    Frankx


                           Quicken H&B-Subscription - Windows 10 Home - Ver. 2004
                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -
  • jtduke44
    jtduke44 Member
    Thanks. This was helpful. Thanks also for monitoring other answers which didn't necessarily apply to my question.
  • luremaker
    luremaker Unconfirmed, Member
    My tax preparer said to use a general journal entry for my issue. I have 2 businesses and have created accounts for both in my Quicken 2007 for mac. Account A wrote a check to cover a bill because Account B was not available to write any checks at that time. We are considering that transaction as a loan from A to B. Now I want to issue a check back to A as repayment for the loan. I have created an asset account for "Loans to B" and a liability account for "Loans from A". How do I go about making the entries into my registers?
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    @luremaker I suggest you start a discussion/question thread under one of the Mac topics.  Generally, Quicken does not maintain a "General Journal", but I suspect someone with Mac experience can point you in the right direction.
  • luremaker
    luremaker Unconfirmed, Member
    Thanks. I'm real new to this. How do I get to the Mac topics?
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    Signature:
    (I'm always using the latest Quicken Windows Premier subscription version)
    This is my website: http://www.quicknperlwiz.com/
Sign In or Register to comment.