How to Adjust Income & Expenses in Quickbooks
Quickbooks is an accounting program that allows small businesses to maintain records. During the course of business, a company may need to adjust income and expense accounts. Quickbooks allows users to access and adjust these accounts so that a company may state its income and expenses on income statements.
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Instructions
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Open Quickbooks and go to "Make General Journal Entries."
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Enter the date you want adjustments to be active.
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Use the "Opening Bal Equity" account and debit the amount of your year-to-date profit. If you have a loss, then credit your year-to-date profit.
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Use income accounts to credit any income during the year for adjustments.
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Use expense accounts to debit any expenses during the year for adjustments.
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Click "OK."
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References
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