How do I get payroll entries into profit and loss

Hello PatCollins,

Welcome to the Community. I'm here to help provide information about the Profit and Loss report.

The Profit and Loss report shows your total Income and Expenses on a specific period depending on your filter. When you create a payroll for your employees, Payroll Expenses will automatically populate on the statement.

All entries that will affect the expense will automatically show on the report. I'm adding a screenshot for your visual reference on this:

For additional insight into financial reports, such as the Profit and Loss statement, I'm adding an article that I recommend:

Why are my income and expense transactions missing from my Profit and Loss report?.

Please reach out to me here should you need any additional information about the report. I'm always available to talk QuickBooks.

Thank you for the reply.  So on the balance sheet will I see liabilities for PAYE and Pension awaiting payment to be "paid" via the bank entry system?

Hi, PatCollins,

Thanks for getting back to us. Let me share some insights about the Balance Sheet report.

A Balance Sheet report shows you a financial snapshot of your company like what you own (assets), what you owe (liabilities), and what you invested (equity) on a specific period you've set up.

Therefore, upon pulling up this report, you’ll able to see all the liabilities that are still waiting for payment. 

Moreover, to see a higher-level summary, you can pull up the Balance Sheet Summary report instead.

To know more about Balance Sheet report, I'm including some helpful articles that you can check:

• What is a Balance Sheet report?
• FAQ's about Basic troubleshooting for balance sheets

If you have further questions  in pulling up reports, please let me know. I'm always here to help. Have a great day!

Did you get a solution as to why the payroll is not showing in your Profit and Loss Account? I am finding the same thing in QBO standard payroll.

Thanks.

Hello @AliH1,

Ideally, the account assigned to your payroll transaction is your Payroll Expense account. Let's review your Payroll Settings so you can identify the affected payroll account.

1. Go to the Gear icon.
2. Under Your Company, select Payroll Settings.
3. Select Preferences.
4. Click Accounting Preference.
5. Review the used for your payroll transactions.

From here, go back to your Profit and Loss report and look for the affected payroll account. On that same page, you can open the Transaction List report by clicking the amounts on the account and review your payroll transactions.

In addition, here's an article you can read to learn more about customising your report: Customise reports in QuickBooks Online.

Lastly, I've got you this helpful article to learn more about the other reports you can customise: Popular custom reports in QuickBooks Online.

If there's anything else that I can help you with, please let me know in the comments. Always around happy to help.

Hello, I have tried your suggestions but still no payroll expenses for April 2020 in the P&L. The previous year amount is there.

When you say to review what is used for payroll transactions under Accounting Preference what should it say. Do you mean 'cash' or 'accrual'? I have tried both and still no payroll in P&L.

Have we made a mistake in the way we have imported our data and should we try again?

I had hoped that I could get the payroll to work as this is for a pub we run with only a few employees, I also have another firm with over 50 and am now dreading that it won't work.

The phone number I had for help doesn't appear to be manned any more.

Alison

Hi AliH1

Are the payroll journals being created when you run the payroll are they populatingin the Payroll Expenses Wages chart of account?

I have taken hours of time on 'chat' to discover that this is a 'known error' and the 'engineers are working on it'.

I am also not getting the single payroll payment I have made showing on the individual's pay record, even though I can download a payslip.

I can also not do a single pay report for all employees which I used to do in desktop, I can only do one per schedule.

Extreme frustration. I am seeing if I can use another payroll supplier and integrate it into quickbooks, or decide to leave quickbooks for perhaps Sage.

It is just not good enough to stop the payroll in desktop and force me into a programme that is not ready. If you have answers to any of that please come back to me soon.

This is not what we want you to experience with, @AliH1.

Rest assured our engineering team is aware of this issue and is working diligently to find the root cause of this. Once this issue is resolved you'll be notified as soon as possible.

In the meantime, you'll want to manually create the payroll journals. I suggest contacting your accountant for guidance in recording this. This way, we'll ensure the accuracy of your account.

Also, you can always check our Help articles page for future reference. From there, you can read helpful articles that can guide you in your future tasks.

Should you have any other concerns or questions, let me know by leaving a comment. I'm more than happy to help. 

Just adding another message to say that my struggle with QBO 'Advanced' payroll continues. Hours and hours of wasted time after being forced to use this software. It is simply not ready. It can't deal with Employer's Allowance, so now my HMRC record is wrong. Thanks quickbooks :(