Journal Entries. We accountants, we love our journal entries, right? Love them so much there’s even an accountant’s credo. There’s nothing that can’t be fixed with a neat and tidy journal entry. Yeah, journal entries, they’re the WD40 of number crunching; the duct tape of data entry.
And yet, for accountants, there’s always been a bit of a problem–a perfect storm of frustration–that would come crashing down whenever three particular elements converged all at once. And those three elements were:
- QuickBooks Online
- Journal Entries
- Sales Tax Accounts
You know what I’m talking about right? I have certainly written about it before. Even offered a nifty workaround.
But now (well, as of mere weeks ago actually) it’s all good. If you’re an accountant, and you want to record a journal entry in QuickBooks Online, and you want–in that journal entry–to debit or credit a sales tax account. Well, go ahead. Knock yourself out. It’ll all work out. You won’t mess anything up and everything will remain in sync and in balance. All thanks to a new feature that adds a Sales Tax column in the journal entry window, a column that now allows you to pick a destination line number on the corresponding sales tax return.
Which means, with this new feature, the GL and the sales tax report will always be in sync. No more out-of-balance reports. No more head scratching. No more adjustments. Which also means that your clients will, once again, view you–the fearless accountant–as the rock star that you truly are.