Question

Payroll, historical data / bank feed

Forum|Forum|5 years ago
April 16, 2021
11 replies
40 views

When I subscribed to QB this past September I had payroll as part of the subscription, I had setup employees but had not run or used the payroll and ended up canceling. In February I decided to give it a try, I went online googled QB payroll found the subscription I wanted and signed up, apparently I made a payroll standalone account, even though it was all the same info, login, company, EIN, etc. At first i thought, ok well maybe thats one way it works and just went ahead, switching between QB online and payroll. Not smart, I know. I've been trying for a month to determine the best thing to do to fix it, I recently added payroll premium, by using the "restart payroll subscription" which I wish I had done to begin with. The employees were of course all still there from where I had set them up, I wanted to make sure it was all done right so I contacted an agent yesterday and she moved my previous payroll data over to the new premium subscription. So today I thought I was good to run payroll until I realized the previous deductions, year to date info wasn't on the paystubs, so that's one problem. Then theres the bank feed / chart of accounts mess I've got going on, my numbers are off in a huge way, there's a new account appearing in the chart of accounts section, "cash on hand" which has all the payroll checks and the checks are not debiting my checking account, instead theres a different account called "business checking" but it isn't my business checking, I don't know where it came from. I have my correct checking account linked in payroll settings. Also, the payroll deductions and payroll tax accounts do appear in the chart of accounts but they are also debiting from the new "business checking". Maybe that's all for a reason, I just don't know, and i don't know where to start, I've been on the phone with quickbooks for hours over the past three days, the last agent I spoke to said to create a journal entry to move everything from cash on hand to my checking account. But when I asked him which account to use for the previous payroll checks and federal tax deductions that have cleared my account and have been sitting in my transactions list because I don't know where they belong, he said I needed to speak with an expert because he wasn't sure, which made me feel maybe moving anything would only make things worse if thats possible. I'm just feeling extremely overwhelmed and I'm not sure where to turn. Just hoping someone could shed some light on this for me, please, I'm so desperate to resolve this. I do appreciate everyone at QB for trying to help me, it would be nice if you could stay in contact with one agent until you had a solution to avoid the daunting task of explaining the problem as well as what previous agents have tried.

Workforce Payroll

MaryLandT

Level 10

Thank you for sharing complete details about the payroll setup and how it works on your end, freedomhvac.

It's good to know that bank accounts are set up correctly on the payroll preferences. It's important to map the Chart of Accounts to track payroll expenses.

When the payroll service is set up, the system automatically creates default accounts to record your payroll liabilities and expenses.

There are just a few steps to change your payroll account info. Here's how:

Click the Gear icon in the top right corner.
Select Payroll Settings.
Choose Preferences at the top of the page, beside of Setup.
Click Accounting Preferences.
Select Customize at the bottom of the page.
You'll then be able to choose the checking account to use for payroll.

The account will have to be one that is already connected to QBO. This article will walk you through the steps of connecting an account if the one you need for payroll isn't already linked: How to use Online Banking, Connect Bank Accounts, and Review your Bank Feed in QuickBooks Online.

If you made the changes after running payroll, it affects future transactions. However, you have an option to apply these changes to your past transactions too. You'll receive a confirmation screen that your accounting preferences have been updated.

If you want to use different accounts for tracking these transactions, your first step is to go to the Chart of Accounts window. Then, set them up.

Let me show you how to do it:

Select the Gear icon at the top, then Chart of Accounts.
Select New in the upper right corner of your screen.
Choose Expenses from the Account Type drop-down menu.
Select Payroll Expenses from the Detail Type drop-down menu.
Type in the name of the Payroll expense or liability account in the Name field.
Click Save and Close.

Once done, go back to the Payroll Settings and use the newly added account for tracking payroll transactions.

If you need a fresh payroll information, you can start over with QuickBooks. Then, use this link to know what additional information you need easily manage the system: Learn how to set up and start using your new Payroll for QuickBooks Online.

Don't hesitate to leave a comment below if you have follow-up questions about this. I'll be around to provide the information needed to track payroll transactions.

F

freedomhvacAuthor

My bank account is set as the right account in that area of preferences.

A

Archie_B

Level 6

Thank you for posting your response, freedomhvac.

I can only imagine what you've been through. I'd like help and share what I know about payroll in QuickBooks Online.

As my colleague MaryLandT mentioned, once you set up payroll, the system will automatically create the default accounts to record your payroll liabilities and expenses.

Also, you can utilize the Audit log to check the transactions and if the new account you created will show.

Here's how:

Go to the Gear icon.
Select Audit log.
Locate the newly created account, then click View

Here some helpful articles to guide you about payroll in QuickBooks:

Post or click the reply button below if you have further questions and clarifications. I'll be here to help. Have a great day!

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