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What else can I help you with?
Why do you need to reverse a journal entry?
According to my understanding and my study in accounting, the reversal of journal entry merely is for the opening balances for a new year of accounting period
What happens if the adjusting entries to the general ledger are wrong?
You would reverse the journal entry then record the correct entry.
What is the journal entry to reverse an accrued expense?
Payable Account XXX Expense Account XXX
What is the general ledger journal entry to write stale checks?
You need to check the original journal entry for the check transaction. Then reverse all the original entries by Dr where you initially Cr and vice versa.
How do you record a journal entry to reverse the expense booked?
debit cash / bank / accounts payablecredit expense account
What is a compound journal entry?
Compound journal entry is that entry which records more than one business transaction in one single journal entry.
How do you do journal entry for Forecasting Sales?
There is no journal entry for forecasting sales rather journal entry is made for actual sales when they occur.
What is the structure of a journal entry?
Recording of a transaction in an accounting journal, such as the General Journal. The journal entry has equal debit and credit amounts, and it usually includes a one-sentence explanation of the purpose of the transaction is called journal entry.
Why you post journal entry?
Journal entry is the basic transaction to record the business transaction and without journal entry no record can be maintained.
What is the journal entry for bill received?
There is no journal entry for bill received rather journal entry is made when bill is actually paid or when utility is actually utilized.
Why do you need to do journal entry?
Journal entry is required to record business transaction in books of accounts and without journal entry no business transaction can be recorded in books.
What is the journal entry to charge-off a loan?
journal entry to write off a loan
