How to Make an Adjusting Journal Entry for Accounts Receivable in a Closed Accounting Period
27 steps
2 minutes
1
Navigate to Brokerage Engine.
2
Click the "Accounting" tab to navigate to the interface.
Create the Adjusting Journal Entry
3
Click the "Quick Actions" menu.
4
Click the "Journal Entry" option.
5
Use the small calendar icon to adjust the date. The date will be in the current Accounting Period.
6
Use the Journal Number to reference the A/R adjustment.
7
Using the dropdown menu, select the Income General Ledger account associated with the Invoice.
8
Type the Amount of the Invoice on the Debit column.
9
Select the Class associated with the Agent.
10
Click Accounts Receivable using the dropdown menu.
11
Enter the Amount of the Invoice on the Credit column.
12
On the "Name" column, select the Customer Profile of the Agent.
13
Select the Class associated with the Agent.
14
Click "Save"
15
Click "OK"
Link the Journal Entry to the Invoice
16
Click the "Sales" tab.
17
Click the "Customers" option.
18
Click the "Search Customer" field and type the name of the Agent.
19
Click on the Name.
20
Click the "Transactions" tab.
21
Locate the Invoice to adjust.
22
Click the "+" button.
23
The Credit created by the Journal Entry will be available to be applied.
24
Select the checkbox for the Journal Entry.
25
Click "Save"
26
Click "OK"
27
The Invoice Payment will be listed as "$0.00" and the A/R Balance for the Agent has been reduced.
