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Intuit

How to set up opening balances in QuickBooks Payroll

Learn how to enter or import opening balances from another payroll provider into QuickBooks Payroll.

How to Enter Opening Balances

  1. Navigate to Employees in the left-hand menu.
  2. Select the name of the employee.
  3. Select Opening Balances from the left-hand menu
  4. Select the Leave Balances tab and enter the amounts as of the date you moved to QuickBooks Payroll, then select Save.
  5. Select the Earnings tab and enter the amounts, then select Save
  6. Select the Deductions tab, enter the balances then select Save.
  7. Select the Employer Liabilities tab, enter the balances, then select Save.
  8. Select the Super & PAYG tab, enter the balances, then select Save
  9. Select the Employment Termination Payments (ETPs) tab, enter the balances, then select Save.

Need more help? see below for further information

  • Partial hours should be entered as a decimal, e.g. 6.5 hours for 6 hours 30 mins.
  • Earnings will be allocated to the employee’s primary location set via their Pay Run Defaults page.
  • You do not have to enter balances for all categories.
  • All categories which require a monetary value should be recorded as the Year-to-Date gross values. To change the financial year, select Opening Balances Settings and select the year you want to report.
  • If your previous payroll system did not breakdown PAYG, SFSS and HELP payment amounts, enter the one figure in the PAYG Amount field.
  • Do not include salary sacrifice super and/or member voluntary amounts in this section. Enter these amounts in the Deductions tab.
  • If you have Super Guarantee amounts that are not yet processed, that you plan to process using Beam, do not enter these amounts. Instead, create an ad-hoc pay run and enter the amounts there so Beam will be able to factor it in when processing upcoming super payments.
  • Selecting Save on any of the opening balance sections will save all opening balance categories at once.

How to Import Opening Balances

  1. Navigate to Employees from the left menu.
  2. Select Payroll Settings, then select Opening Balances.
  3. Select Import.
  4. Select Select File, and choose the .xlsx file you would like to upload.
  5. Select Confirm upload.

Note: You can download a template from the Data Extracts page (Located in Payroll Settings under Business Management).

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