Journal Entry Correction & Depreciation

You can't always get your books 100% accurate throughout the year. Of course we should have day to day processes to help reduce the need for reconciliation...but we'll always have a bit of cleanup.

Luckily for us, we can make use of Journal entries to help move things around and make corrections. We will always need journal entries for transactions like tracking depreciation...but we can also use it for quick fixes. Check out this quick lesson from Real Estate Accounting Bootcamp...make sure you're comfortable making journal entry corrections!