This feature allows you to correct the overall Trial Balance by entering new balances, and AccountsPrep creates a standard journal entry for the variance.

​​Quick Journals can also be useful as an alternative to the Opening Balance import.

Go to Accounting > Journals > Quick Journal

Before Change - The Quick Adjusting Journal Entry screen shows the balance for the entire chart of accounts for the date selected.

After change - This is where you enter the new balance for any account, and the system will calculate the difference automatically.

Bank accounts will always be greyed-out, as you can’t create manual journal entries for bank accounts in AccountsPrep. If you need to adjust a bank account balance, use a statement batch entry instead.
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Description - A description is compulsory before you can save the journal.

Date - The date must be within the current period. If you select a date from the prior or next period, the date will show in red. In that case, change the current settings to the relevant period before you create a journal.

Type - The type is by default Adjusting Journal Entry (AJE)

You can also select from the list:

Out of balance / OK - The After change column must balance for you to be able to post the journal.

Reset - If you have made mistakes while entering new balances, you can reset to the current figures.

Save - After you save, it will create a journal batch entry for the accounts with a variance for the date selected.

The Quick Journal tool can be useful if you need to enter comparative balances for previous periods. If you do, make sure to start from the oldest period first.

If you need, you can add prior periods from the settings > Period End Dates.

Select the oldest period first and create the journal for that period.

Select the next period and create the next Quick Journal balance for that new period.