In this presentation, we’re going to take a look at an accounts receivable reversing entry. So the story goes like this, we had an invoice that was entered into the system in March after the cutoff date, we pulled it back before the cutoff date. So that income was reported correctly as of the cutoff date, which is going to be February 29. Now we’re going to do a reverse in entry, so that everything is correct and the following period in February as of the date of the original invoice. Let’s get into it with Intuit QuickBooks Online.
Posts with the Adjusting Entry tag
Accrued Interest Adjusting Entry 10.15
This presentation we will enter and adjusting entry related to accrued interest. Let’s get into it with Intuit QuickBooks Online. Here we are in our get great guitars file. We’re going to start off by opening up our reports. Once again, we’re going to go to the reports on the bottom left hand side, we’re opening up the trusty balance sheet or our favorite report the balance sheet, not the trustee trial balance the balance sheet up top, we’re going to go back up top, we’re going to change dates from 1012020 229 to zero, remembering that this is the cutoff date that we want to enter our adjusting entries as of we’re going to go back up top and then duplicate the tab by right clicking on it and duplicating it.