After running payroll do I have to manually create expenses against my Cash in Hand/Bank Account to match the journal entries for the PAYE liabilities?
After running payroll do I have to manually create expenses against my Cash in Hand/Bank Account to match the journal entries for the PAYE liabilities?
I ran payroll successfully and the journal entries appeared in the Chart of Accounts correctly.
I did the payments manually to employee/hmrc.
So do I now have to create manual expenses for all the PAYE related liabilites or do I somehow link those PAYE related accounts in the Chart of Accounts into the Cash in Hand/Bank Account to reflect the money paid out?
After running payroll do I have to manually create expenses against my Cash in Hand/Bank Account to match the journal entries for the PAYE liabilities?
Hi djmaudio, thanks for joining us on the Community. :)
In most cases you'll need to record paying the payroll liabilities manually using an expense posting to the specific payroll account, can we first check which version of the payroll you're using, standard or advanced?
After running payroll do I have to manually create expenses against my Cash in Hand/Bank Account to match the journal entries for the PAYE liabilities?
Hi djmaudio, thanks for joining us on the Community. :)
In most cases you'll need to record paying the payroll liabilities manually using an expense posting to the specific payroll account, can we first check which version of the payroll you're using, standard or advanced?
After running payroll do I have to manually create expenses against my Cash in Hand/Bank Account to match the journal entries for the PAYE liabilities?
After running payroll do I have to manually create expenses against my Cash in Hand/Bank Account to match the journal entries for the PAYE liabilities?
Thank you for your prompt reply, @djmaudio. Let me help you with paying liabilities in QuickBooks Online (QBO).
You can find it by going to the Taxes menu in the left panel, then selecting Payroll Tax. You'll be directed to the Payroll Tax Centre where you can see your upcoming and due tax filings.
For your future reference, you might also check this following articles to learn more about paying payroll liabilities in QuickBooks Online.
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