How do you make a journal entry in quickbooks online

Asked by admin @ in Business viewed by 290 People

Which statement about journal entries in QuickBooks Online is true?

A. A Journal Entry cannot be used to account for depreciation of an asset.
B. The Accountant user can’t create an Adjusting Journal Entry in QuickBooks Online.
C. Your client can’t create an Adjusting Journal Entry.

Answered by admin @


Answer:

C. Your client can’t create an Adjusting Journal Entry.

Explanation:

In QuickBooks Online Accountant you (the accountant) make the adjusting journal entries, not your clients. It is like saying that you operate yourself while your doctor drinks coffee besides your bed.

the other options are wrong:

A. A Journal Entry cannot be used to account for depreciation of an asset.  ⇒ FALSE, QuickBooks doesn't automatically depreciate an asset, the user must do this through journal entries.

B. The Accountant user can’t create an Adjusting Journal Entry in QuickBooks Online.  ⇒ FALSE, when using QuickBooks Online Accountant you can create adjusting entries just like any other regular entry.


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