Journal Entries. Typical journal entries for QuickBooks include booking depreciation entries, income tax provisions, and loan interest adjustments. If a journal entry is in fact needed, consider the following rules: Only one Accounts Receivable or Accounts Payable type account per entry.
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Accounts Payable is a short-term debt payment which needs to be paid to avoid default. Description: Accounts Payable is a liability due to a particular creditor when it order goods or services without paying in cash up front, which means that you bought goods on credit. Accounts Payable as a term is not limited to companies.