Mastering Journal Entries in QuickBooks Online

In this episode, Hector and Alicia delve into using journal entries in QuickBooks Online, outlining when they're appropriate and when to avoid them. They offer insights into accounting workflows such as depreciation, tax adjustments, job costing, and class allocations. They also highlight advanced techniques like the adjusting entry checkbox and utilizing features like the reclassify transactions tool. The episode showcases the new journal entry import tool, explaining how to set up CSV files, map accounts, and overcome limitations, along with innovative uses like memo notes via zero-value entries. Whether you're an accountant, bookkeeper, or QuickBooks enthusiast, this episode enhances your understanding of journal entries and enhances efficiency in QuickBooks Online. Sponsors Client Hub- https://uqb.promo/clienthub LiveFlow - https://uqb.promo/liveflow Settle - https://uqb.promo/settle (00:00) - Welcome to the Unofficial QuickBooks Accountants Podcast (01:53) - Introduction to Journal Entries in QuickBooks Online (09:33) - The Complexities of Adjusting AR and AP in QuickBooks (20:13) - Advanced Journal Entry Techniques for Job Costing and Class Allocation (28:49) - When to Avoid Using Journal Entries (29:33) - QuickBooks Online: Reclassify Transactions Feature (30:34) - The Power and Limitations of QuickBooks Online Accountant (35:36) - Navigating QuickBooks Online: Importing Journal Entries (45:04) - Advanced QuickBooks Online Features: Adjusting Journal Entries (49:35) - Upcoming Courses and Personal Updates (51:45) - Reflections and Closing Thoughts Send your Questions/Comments (we could read/answer them on air) ask@uqapodcast.com Links/Apps Mentioned in this episode: Hector's App - RightTool www.righttool.app Alicia's Training - RoyalWise http://royl.ws/uqapodcast QuickBooks Connect Conference www.quickbooksconnect.com Firm of the Future www.firmofthefuture.com