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How do you record a journal entry in QuickBooks?
To record a journal entry in QuickBooks, go to the Company menu, select Make General Journal Entries, enter the date and journal entry number, choose the accounts to debit and credit, input the amounts, and save the entry.
Why a narrative should be shown as part of a journal entry?
It is impossible to remember the reason for every entry & the entries in the journal sometimes involve "out of the ordinary" transactions.
How do you post journal entries in QuickBooks Online?
To post journal entries in QuickBooks Online, go to the "New" menu and select "Journal Entry." Enter the necessary details such as the date, accounts, and amounts. Review and save the entry to post it to your account.
Is vacation time taxed when paid out?
Yes, vacation time is generally taxed when paid out as it is considered taxable income by the government.
At the time of acquisition of a debt investment what happens?
no journal entry required
Journal entry of entry tax paid?
[Debit] Tax paid [Credit] Cash / bank
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.
Journal entry to record an accrued vacation expense?
Though I have never heard the term "accrued vacation expense" nor have I ever heard of a "vacation" being a business expense, however, the journal entry would be handled like most "payables". So if your company uses the account of Accrued Vacation Expense, the journal entry should be something like....Vacation Expense (debit) $XXXAccrued Vacation Expense (credit) $XXXOnce the amount is paid, a debit would be recorded in the Accrued Vacation Expense account and a credit to Cash, to remove it from the books and note that the debt (or expense) has been met.
How do you made a journal entry for loan repayment schedule?
There is no journal entry for loan repayment schedule rather journal entry is made when actual payment is done or installment is paid.
What is an accrual journal entry?
Accrual journal entry means that entry the transaction of which is occurred already but payment is not yet received or paid to other party.
What is the opening journal entry for paid up capital?
capital
What is THE journal entry to record paid in capital?
Debit cash / bankCredit paid in capital
What is the journal entry of paid to David on behalf of Andrew?
Journal entry is as follows: [Debit] David A/c xxxx [Credit]Andrew A/c xxxx
What is journal entry of paid salary?
debit salary expensecredit cash
What is journal entry of paid into bank?
bank a/c to cash a/c
What is the journal entry for rent paid by cheque?
Debit rentCredit bank
What is the journal entry of interest paid?
Debit interest expenseCredit cash
