Turn a target report balance into a journal

Report Allocation Journal turns report changes into a balanced journal entry. Load the Profit and Loss for the period, then choose Start Adjustment.

Type the balance you want directly into the report. Here we change rent expense from sixteen thousand five hundred fifty-six dollars and four cents to seventeen thousand dollars. The tool calculates the difference.

Choose Prepaid Expense as the balancing account. The preview calculates a four-hundred-forty-three-dollar-and-ninety-six-cent debit to rent and an equal credit to prepaid expense. Review the lines, then export the journal or create it in QuickBooks.