---
# System prepended metadata

title: Special Accounting Entries
tags: [t1.gl/3Accounting]

---

---
tags: t1.gl/3Accounting
---
# Special Accounting Entries

:::info
:link: Cite this document via t1.gl/3Accounting-Journal
↖️ This document is a part of t1.gl/3Accounting.
:calendar: This is **v2.1** updated on 2021-08-25 by Jennifer 
:x: CFO Review: **v1.0** from Doughty
✔️ CEO Review: **v2.0** from Edwin
Please consider this version to be **RELEASE CANDIDATE** that is pending approval.
:::

[TOC]

## Overview
:::danger
:warning: This document and its associated procedure should be a **LAST RESORT** if no other document covers what you're trying to do.
:::

| Category | What to Do / Explanation | Example |
| -- | -- | -- |
| 1. Correct Error in Aleady Frozen Year | **Request Journal Entry.** Only use if the original transaction cannot be corrected / frozen / audited | HSBC HKD current account (100-002) is $155 out of balance because a refund from EAA was not reconciled properly in 2018 and was overlooked during the 2019 audit.
| 2. Previous TX Entered Incorrectly | **Request Reclassification.** | Added loan to T1TW as equity whereas it should be classified as a debt.
| 3. Anything Not in This Table | 1. Double check no other 3Accounting document covers your case.<br/>2. Ask via email whether a new row should be added to this table OR a new 3Accounting document should be created. 

**ALL JOURNAL ENTRIES MUST HAVE A MEMO SECTION FILLED IN** which includes:
1. the permalink they were created pursuant AND 
2. email subject title where the approval happened.


#### CHANGELOG

| v | Date | Who? | What? |
| -- | -- | -- | -- |
| v2.1 | 2021-08-25 | Jennifer | - Updated overview to read if just fixing an error, request a reclassification instead.<br>- Reclassification email template added.
| v2.0 | 2021-08-04 | Edwin | - Adjusted document to adhere to t1.gl/3Accounting requirement to prioritize Business Rationale over QBO Types (Special Accounting Request over Journal Entry).<br>- Added warning on top.<br>- Refactored to create steps 1/3.


## Procedure: Reclassify Previous TX
---
> TO: doughty@t1.co, eshao@t1.co
> CC: 3accounting@t1.co
> SUBJECT: [t1.gl/DECISION @Doughty @Edwin] Reclassification Request (Per t1.gl/3Accounting-Journal)

Hi Brian & Edwin,

Per t1.gl/3Accounting-Journal, I would like to request a reclassification of a previous entry in QBO.

Brian - Please provide 1st approval to this request.
Edwin - Please provide 2nd approval after Brian's.

This request requires explicit approval. =={Insert any information about deadlines or urgency here.}==

|| Proposed Reclassification | 
| -- | -- |
| QBO TX Link |
| Change Requested |

{Attach relevant docs to this email}

---

## Procedure: New Journal Entry
### Step 1. Request New Journal Entry
---

> TO: doughty@t1.co, eshao@t1.co
> CC: 3accounting@t1.co
> SUBJECT: [t1.gl/DECISION @Doughty @Edwin] Request t1.gl/3Accounting-Journal

Hello,

Brian - Please provide 1st approval to this request.
Edwin - Please provide 2nd approval after Brian's.

This request requires explicit approval. =={Insert any information about deadlines or urgency here.}==

|| Proposed One-Off Journal Entry | 
| -- | -- |
| Date |
| Amount | {CURRENCY} {AMOUNT}
| DR Account | 
| CR Account |

**Reason Category:** {PICK FROM TABLE IN STEP 1}
**Reason Details:** {ATTACH SUPPORTING DOCUMENTS}

Thanks,

---

### Step 2. Create a Journal Entry in QBO
1. Select `+ New > Journal entry`.
2. On the first line, select an account from the Account field. Depending on if you need to debit or credit the account, enter the amount in the correct column.
    - On the next line, select the other account you're moving money to or from. Depending on if you entered a debit or credit on the first line, enter the same amount in the opposite column.
    - Check the amounts - you should have the same amount in the Credit column on one line and the Debit column on the other. This means the accounts are in balance.
3. Enter information in the memo section so you know why you made the journal entry AND **specify the GMail subject title where you got permission for the entry.**
    - In the attachments section, attach supporting documents and evidence.


