Are There Restrictions On Making General Journal Entries To A/R and A/P Accounts?

Yes, there are a few restrictions on making General Journal Entries to Accounts Receivable (A/R) and Accounts Payable (A/P) accounts. Normally, the preferred way to change the balance in an A/R or A/P account is by recording transactions, such as customer invoices or vendor bills. However, sometimes it’s more convenient to make a General Journal Entry.  […]

How Do I Record a Debt Refinancing Where I Use a New Loan To Pay Off Several Other Loans?

A common business situation is to use a new loan to repay one or more existing loans, possibly raising cash in the process.  This is commonly referred to as a refinancing. QuickBooks includes a Loan Manager which can be run from the Banking->Loan Manager menu selection.  It’s important to understand that Loan Manager is primarily […]

How Do I Change an Onscreen Form Such As Create Invoices To Show More Line Items?

Making changes to the windows of QuickBooks is easy. Let’s use the Create Invoices window as an example.  By default, this window shows just 2 invoice lines.  In this article, we’ll change the default look.  An important point to keep in mind is that you should not close the Create Invoices window until you’ve completed […]

How Do I Record the Sale of a Fixed Asset On a Lease?

If you’ve already accounted for a leased asset as a fixed asset, you’ve accounted for that asset as a capital lease, sometimes called a finance lease, as opposed to an operating lease.  We’ll assume that the capital lease determination is correct and proceed from that point. Capital leases impact a firm’s balance sheet, and the […]

How Do I Resort Lists?

Lists are one of the foundations of QuickBooks, and from time to time they can become out of order.  That’s when they need to be resorted.  Some common indicators that it’s time to resort your lists include: the list itself is out of order an element is missing new entries in a list appear at […]

Are There Restrictions On Making General Journal Entries In a Multicurrency Environment?

Yes, there are a few restrictions on making General Journal entries in a multicurrency environment. Only 1 foreign currency is allowed per General Journal entry The currency of the General Journal entry must match the currency of the accounts selected or be your home currency If you enter data in the Name field, it must […]