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user16100
Level 2

Matching payroll payments

Hello,

Our payroll is outsourced to an external supplier so entries in QBO are manual.

I've made a journal entry for directors salary: Dr Directors salary, Cr wages. The debit shows up fine on the P&L but when I search for a match in the bank feed nothing comes up. Have double checked dates and amounts.

How should I record the payroll in a way that allows matching in the bank feed? Thanks in advance, Bill.

Solved
Best answer February 05, 2021

Accepted Solutions
user16100
Level 2

Matching payroll payments

Hello, I worked out what the problem was, so am posting in case it helps anyone else.

There was nothing wrong with the journal entry, I just needed to create a 'cheque' for the payment aspect of the transaction (there must be a better name for it these days?) and matched the cheque to the payment.

Have checked the balance sheet and P&L and all in order now.

Thanks to everyone who replied Smiley Happy

 

View solution in original post

5 REPLIES 5
GeorgiaC
QuickBooks Team

Matching payroll payments

Hi user16100, 

 

Thanks for joining us here on the Community.🙂

 

To match to the journal this will need to post to the bank account, is the director's salary account set up as a bank account? 

user16100
Level 2

Matching payroll payments

Hi GeorgiaC,

Thanks.

No, the directors salary account is an expense account.

MariaSoledadG
QuickBooks Team

Matching payroll payments

Let me add a few information about the recording director's fee so you can match them, user16100.

 

The Director's fee or remuneration is the process by which directors of a company are compensated, either through fees, salary, or the use of the company's property, with approval from the shareholders and board of directors. Thus, this will surely increase the expense.

 

You must have a corresponding bank account when recording it as Journal Entry. To do this, I recommend reaching out to your accountant so you'll be guided on what accounts to use and how you can properly record your entries so you'll be able to match them to the correct transactions in QuickBooks Online (QBO).

 

For you to be guided, visit these help articles for more information.

 

Please let me know if you need further assistance with matching bank transactions. We're always right here to help if you have any other concerns. 

 

user16100
Level 2

Matching payroll payments

Thanks MariaSoledadG

 
user16100
Level 2

Matching payroll payments

Hello, I worked out what the problem was, so am posting in case it helps anyone else.

There was nothing wrong with the journal entry, I just needed to create a 'cheque' for the payment aspect of the transaction (there must be a better name for it these days?) and matched the cheque to the payment.

Have checked the balance sheet and P&L and all in order now.

Thanks to everyone who replied Smiley Happy

 

View solution in original post