When we run Payroll, ER pension contributions are added to a Payroll expenses journal. When we then enter the NEST pension d/d in our bank ledger, the pension appears 2x.

chris80 · ‎July 29, 2020

So the employer's pension contribution appears twice on our Profit & Loss report. How do we get round this ?

ReymondO · ‎July 29, 2020

It could be that these transactions were both posted as payroll expenses. This is the reason why the employer's contribution appears twice in the Profit & Loss report.

Let me help fix this out so that it will be properly recorded in your reports in QuickBooks Online (QBO).

What we need to do is to open the NEST pension payment in your bank ledger. Then, change its account from Payroll Expense: Pension to Payroll Liabilities: Pension. This way, it will correct the records in your P&L report.

In addition, you can run the Workplace Pension report in QuickBooks. This will show all of your employee's information in your pension plan, their personal details, the date they enrolled, their assessment information, and their pensionable earnings. Just go Reports and scroll down to the Payroll section. Then, select the Workplace Pension report and click Run.

I'm always here to help if you have any other concerns or questions. Just tag my name in the comment section and I'll get back to you as soon as I can.

View solution in original post

ReymondO · ‎July 29, 2020

Hi there, @chris80.

It could be that these transactions were both posted as payroll expenses. This is the reason why the employer's contribution appears twice in the Profit & Loss report.

Let me help fix this out so that it will be properly recorded in your reports in QuickBooks Online (QBO).

What we need to do is to open the NEST pension payment in your bank ledger. Then, change its account from Payroll Expense: Pension to Payroll Liabilities: Pension. This way, it will correct the records in your P&L report.

In addition, you can run the Workplace Pension report in QuickBooks. This will show all of your employee's information in your pension plan, their personal details, the date they enrolled, their assessment information, and their pensionable earnings. Just go Reports and scroll down to the Payroll section. Then, select the Workplace Pension report and click Run.

I'm always here to help if you have any other concerns or questions. Just tag my name in the comment section and I'll get back to you as soon as I can.

chris80 · ‎July 30, 2020

Many thanks, Reymond.

Changing the account from "Payroll Expenses:Pension" to "Payroll Liabilities:Pension" does indeed remove that entry from the Profit & Loss; thank you for that.

However ... it is the entry automatically posted by QuickBooks Payroll which I don't want on the P&L ... the payment direct-debited by Nest I do want, as it correctly shows what amount was taken from our bank account by Nest.
So one solution is that every time QuickBooks Payroll runs, I afterwards go through the journal entries it has created automatically and change "Payroll Expenses:Pension" to "Payroll Liabilities:Pension" for every "Pension Contribution ER" entry ... but that will take time every month.

Is there an easier / global way to tell QuickBooks Payroll to use "Payroll Liabilities:Pension" for "Pension Contribution ER" entries ?

Many thanks for your help.

Chris

chris80 · ‎July 30, 2020

(Sorry; repeated post)

GeorgiaC · ‎July 30, 2020

Hey Chris,

Thanks for getting back to us, I'm pleased the solution provided above worked for you.

Currently its only possible to edit the journal mapping on the Advanced payroll, if you're using the standard payroll then the only account which you can edit is the net pay account, and you would need to make any amendments to the journal each time after posting.

Do you know which version you're using? A quick way to check if you're unsure is to click on the Payroll tab on the left-hand menu, this will then show with two separate tabs for 'Employees' and 'Payroll' if you're using the standard.

Thanks :thumbs_up:

chris80 · ‎July 30, 2020

Thanks for your help, Georgia.

Yes, I see two separate tabs for 'Employees' and 'Payroll'.

Thanks,

Chris

GeorgiaC · ‎July 30, 2020

Thanks for checking that Chris, in this case, you'll need to continue making changes to the journal yourself - we'll pass on feedback on our end though at the moment it's limited to the advanced payroll and we wouldn't recommend switching over just for this :)

chris80 · ‎July 30, 2020

Okay, thanks, Georgia.

If it is something you can add to standard payroll, that would be good, as I would have thought that anyone using Nest Pensions could have the same difficulty.

Thanks,

Chris

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When we run Payroll, ER pension contributions are added to a Payroll expenses journal. When we then enter the NEST pension d/d in our bank ledger, the pension appears 2x.