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How manual journals would impact your financial statements

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Reference no: EM132716083

Question: It's the 20th July. You are keen to record the wheel aligner you paid for online with your private credit card. You will use a manual journal to record this asset purchase.

Tutorial: Add or edit a single manual journal.

Manual Journal:

- Narration: Wheel aligner paid for by personal credit card

- Date:20 July 2019

- Tick Show journal on cash basis reports and Default narration to journal line description.

- Auto Reversing N/A

- Amounts are Tax Exclusive

- Gross amount(incl GST) paid for aligner: $22,548.90

- Two lines: 710 - Workshop Equipment, 881 - Owner A Funds Introduced

- For marking purposes, please make sure your manual journal narration is: Wheel aligner paid for by personal credit cardIt's always a good idea to look at how your manual journals would impact your financial statements like Profit and Loss report and Balance Sheet report. We encourage you to run these reports to understand the impact of your manual journal.

Reference no: EM132716083

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