Bill creation_Background double entry
I would like to know what’s the back ground double entry when you are creating a Bill? and perhaps how can I see the back ground entries?
Hey Jackson, great question. When you create a bill in QuickBooks, the journal entry that is posted behind the scenes is as follows:
Debit to Expense Account or Asset Account (depending on what was purchased)
Credit to Accounts Payable
If you are using QuickBooks Online, you can see the journal by first opening the bill and display it on your screen. At the very bottom of the screen you should see a tab that says More. Click on that tab and there is an option called transaction journal.
If you are using the Desktop version of QuickBooks, open the transaction you want to see the journal for(like the bill) and then on your keyboard press Ctrl Y.
Crystalynn Shelton, CPA