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Keeping a tab of transactions occurring in your business enterprise is a must. After all, this is the only way to track the inward and outward flow of money in any organization. Even in the traditional business arrangement, there were manual register books in which the accountant used to keep track of the transactions occurring in the organizations. Know how to record register transactions in QuickBooks.
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Today, things are automatically controlled using software solutions. In this connection, QuickBooks deserves a special mention as many companies are preferring it over other account software in the market. The register available with QuickBooks is a user-friendly one and easy to use by even a novice.
What is a QuickBooks Register?
When it comes to the register available in QuickBooks for recording transactions, there are two types of registers available – accounts register and check register. No matter which type of register it is, you will find them resembling the manual register that you used to have for your traditional business. They have been designed in such a way to make it convenient for old businessmen to handle the transaction recording task without hassle.
It is recommended to users to not use the check register directly as this register does not have all the fields that you would need to record transactions in an organized way. For example, you will not see Items, Multiple Accounts, Customer/Project, and Billable/Markup fields in the check register. Hence, the data would seem incomplete. On the other hand, if you think you would not require these pieces of information as input, you are free to directly make an entry in a check register.
Why Record Register Transactions in QuickBooks?
Businesses deal with a lot of transactions on a daily, weekly, monthly, quarterly, or annual basis. Thus, it becomes tough for them to keep a track of the inflow and outflow of resources. By recording transactions in a register, the companies not only get a chance to organize data and store it properly but also ensure easier and faster retrieval when needed.
When your transactions are recorded in the account register of QuickBooks, you can:
- Have a look at all the transactions that have occurred in an account
- Change or delete or deactivate a transaction when required
- Filter accounts for faster retrieval of specific transactions
- Reconcile transactions made individually
- Review reconciliation adjustments
Steps to Record Register Transactions in QuickBooks
To record register transactions, you can opt for either of the two options:
Option A: Using Use Register Command
- Navigate to the Banking menu.
- Select Use Register command.
- Go to the Select Account drop-down list.
- Click on the bank account.
- Click OK.
- In the Date column, record the date of transaction, be it deposit or payment.
- In the Number column, you can assign a unique number to the transaction. [OPTIONAL].
- In the Payee field, select the payee for the transaction.
- In the Payment column or Deposit column (whichever is applicable for the transaction type), enter the transaction amount.
- In the Account field, enter the account type and other account-related details.
- In the Memo field, you can describe the transaction happening if you want. [OPTIONAL].
- If the transaction is meat for two accounts, click on the Splits button. QuickBooks will show you the split accounts area for the transaction. [OPTIONAL].
- Click on the Record button.
- The transaction will be recorded.
Option B: Using Chart of Accounts
- Navigate to the Accounting menu.
- Click on Chart of Accounts.
- Search for the account register to be viewed.
- Go to the Actions column.
- Click on View Register.
- On top, click on Add Journal Entry, Add Check, or Add Deposit drop-down as per the type of transaction you want to record.
- Select the transaction to be added.
- Fill in the details.
- Click Save when done.
The steps mentioned above are quite easy to follow and hence you can easily proceed with entering or recording register transactions in QuickBooks. The instructions are quite clear, still, if you think there is something that you don’t understand or you are getting stuck at, you don’t need to worry. There are several technically skilled individuals available to help you whenever you need them.
If they find you getting confused while following their instructions, they will ask you for access to your system. Once you agree, they will enter your system and do the changes required or complete the procedure themselves.
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+1-800-596-0806 or chat with experts.
Frequently Asked Questions (Faqs)
How do I Manually Record Transactions in QuickBooks?
To manually record transactions in QuickBooks:
Navigate to the Accounting menu Click on Chart of Accounts Search for the account register to be viewed Go to the Actions column Click on View Register On top, click on Add Journal Entry, Add Check, or Add Deposit drop-down as per the type of transaction you want to record. Select the transaction to be added Fill in the details Click Save when done
What is the Function of an Account Register?
When your transactions are recorded in the account register of QuickBooks, you can:
Have a look at all the transactions that have occurred in an account Change or delete or deactivate a transaction when required Filter accounts for faster retrieval of specific transactions Reconcile transactions made individually Review reconciliation adjustments
Why it is Recommended not to Record a Transaction Directly on the Check Register?
It is recommended to users to not use the check register directly as this register does not have all the fields that you would need to record transactions in an organized way. For example, you will not see Items, Multiple Accounts, Customer/Project, and Billable/Markup fields in the check register.
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