How do I receive any Journal Entries from TurboTax business

[daylime]

Typically my end of year business taxes result in journal entries I have to make in Quickbooks. If I'm using TurboTax business how do I obtain these journal entries (if there are any)?

[DaveF1006]

TurboTax Business doesn't directly generate journal entries for QuickBooks, but you can derive them based on the tax return data. Here's how you can approach it:

1. Review Your Tax Return: After completing your tax return in TurboTax Business, review the financial statements and schedules (e.g., Schedule C, Schedule K-1, etc.) for income, expenses, and adjustments.
2. Identify Key Transactions: Look for items like depreciation, amortization, tax adjustments, and other entries that may not already be recorded in QuickBooks.
3. Create Journal Entries in QuickBooks: Use the information from your tax return to create manual journal entries in QuickBooks. For example:

• Record depreciation expense and accumulated depreciation.
• Adjust retained earnings for any tax-related changes.
• Reconcile income and expense accounts to match the tax return.