I have 2 PAYG Withholding/PAYG Libility accounts in my COA. I know what they are but why do I have 2 and can I combine them? Or name them so they make better sense.
To further clarify, one of these accounts was imported from a xero file. I tried to delete it but it wouldn't allow it when I set up the GST tax centre. I would like to merge the 2 accounts, but I am unsure about which one to merge to the other. We have keypay set up and I want to ensure that this is mapping correctly also.
Any experts out there would be very much appreciated.
If you want to merge the two PAYG accounts, I would firstly suggest checking which one is used for the default mapping of payroll journals. Then, merge the 'other' account to that account so the mapping isn't affected. In the below example, I have PAYG Withholding A and PAYG Withholding B:
Once you've determined which one is set up in payroll, you can merge them in QuickBooks Online:
This merges the two together without changing PAYG Withholding A or your journal mapping. Alternatively, you could change the name/type of account B to be something different to help differentiate the two if you prefer.