The other account affected is the company’s cash going down because they used the cash to purchase the car. The general journal transaction entries always begin with a statement of the date that the transaction took place. The year, month, and date of a transaction are written in the date [...]

The best QuickBooks product depends on your needs and the size of your business. SMBs needing remote access to their account files should choose QuickBooks Online. If you want the speed and usability of desktop software, then QuickBooks Desktop is preferable. You can directly record a manual transaction easily, whether [...]