QuickBooks What is : Journal Entry

• Transaction Date
• Entry
  
• Entry Source list
  Source of the list item where data will be extracted from. Learn more here
• Description
• Amount
  
• Journal Entry Line Detail
• Transaction Type
  Indicates whether this Journal Entry line is a debit or credit. 
  
• Account Reference
  Reference to the account associated with this line. For France locales, learn more about it here
  
• Entity
  Entity can be Customer, Vendor, Employee
  
• Entity Name
• Entity ID
• Type
  Specify if it is a Customer, Vendor, or an Employee
• Class
  Reference to the Class associated with the transaction. Applicable if transactions are tracking Classes
  
• Department Reference
  Applicable if your Accounts are tracking departments. 
• Department
  A reference to a Department object specifying the location of the transaction
  
• Tax code Reference
• Tax Code (Non-US accounts only)
  Leave blank for US accounts; For other locales, use the tax code
• Tax applicable on
  Valid values are Sales, Purchase
  
• Tax amount
• Billable status
  The line is to be billed to a customer if the account is an 'expense account' and entity specifies a 'customer' object. Valid values are Billable, NotBillable, HasBeenBilled.
  
• Opposite Entry
  Opposite Entry with details similar to Journal Entry Line Detail, but has to be of the opposite transaction type. Leave List Blank if creating only a single list item
• Currency Code
• Enter Currency Code in ISO-4217. Example : AUD, USD, GBP
• Private Note
• Total Amount
• Transaction source
  Used internally to specify originating source of the entry
  
• Exchange rate
  applicable if multicurrency is enabled for the company. The number of home currency units it takes to equal one unit of currency specified by 
  
• Adjustment
  Indicates the total amount of the transaction. This includes the total of all the charges, allowances, and taxes. By default, this is recalculated by the system based on sub-items total and overridden
  
  
  
  
• Transaction location type
  Valid values are: WithinFrance, FranceOverseas, OutsideFranceWithEU, OutsideEU. For France locales only.

Rules when creating Journal Entries

• Accounts Receivable (A/R) account: needs to have a Customer in the Name Field. The A/R account is visible only after there are A/R transactions such as receive payments from invoices.
• Accounts Payable (A/P) account: needs to have a Vendor in the Name Field. The A/P account is visible only after there are A/P transactions such Bill objects.

Tax Related considerations for global companies:

• There are both Sales Tax and Purchase Tax.
• On the transaction line , if TaxCode is specified, TaxAmount are required.
• Any Transaction Tax Detail lines specified are not overridden. That is, if a user provides incorrect values such that the total amount on debit is not equal to total amount on credit, an error is returned.