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Level 1

Wages from Payroll won't link with Bank transactions, it's created separately so counts it double on the profit and loss report.

 
8 Comments
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QuickBooks Team

Wages from Payroll won't link with Bank transactions, it's created separately so counts it double on the profit and loss report.

Hi there, abel-horvath.

 

There are possible reasons wages from payroll and your bank transactions are created separately. That's why it counts double on the profit and loss report. Here are the reasons:

 

 

To fix this, I suggest to undo those payroll transactions from the Reviewed tab. Then, find a match so you're able to locate matches to your payroll transactions to avoid duplicate entries.

 

Here's how to undo:

 

1. Click Banking at the left panel. Then the Banking section.

2. Go to the Reviewed tab and find the payroll transactions.

3. Put a checkmark on payroll transactions and click the Undo link located at the right corner.

 

After that, you can now go to the For Review tab. Then select each payroll transaction and choose to Find Match. Please follow these steps:

 

1. From For Review tab, select the payroll transaction.

2. Click it to see the full details and click the Find Match button.

3. In the Match transactions window, choose the specific date to show all transactions that match with the payroll transactions.

4. Hit the Save button.

 

You can refer to this article for more information about reviewing your downloaded bank transactions:  Match and categorize bank transactions in QuickBooks Online. This helps you to avoid duplicate entries in you QuickBooks account.

 

To guide you in reconciling your accounts properly, you can check out this link: Reconcile an account in QuickBooks Online. This article also provides on how you can edit completed reconciliations.

 

Please know that you're always welcome to post if you have any other concerns. Wishing you and your business continued success.

Highlighted
Level 1

Wages from Payroll won't link with Bank transactions, it's created separately so counts it double on the profit and loss report.

Hi there,

 

the issue is that the amounts don't match. The Payroll expenses are a few % different between what QuickBooks says it will be taken off the account and what the bank actually removed from the account. So the two amounts don't match at all, that's why the matching is not working. 

Highlighted
Level 1

Wages from Payroll won't link with Bank transactions, it's created separately so counts it double on the profit and loss report.

Hi,

 

Thanks for your answer but this won't work.

 

The amount that Qucikbooks is suggesting in the Payroll/Wages page is not the same that is being lifted from the bank. There is a few % difference. So either the bank is taking less what they should or the QuickBooks is showing more, and taking less but I cannot match the amounts, because they are not identical.

Highlighted
QuickBooks Team
QuickBooks Team

Wages from Payroll won't link with Bank transactions, it's created separately so counts it double on the profit and loss report.

Let me help you with the bank transactions not matching in your account, abel-horvath.

 

If you manually add the transactions in QuickBooks Online (QBO), we can exclude the downloaded bank data on your Banking page. This way, they will not be added to your Profit and Loss report as a duplicate transaction.

 

Here's how:

 

  1. Go to Banking on the left side menu.
  2. Choose Banking.
  3. Tick the For Review tab.
  4. Select the checkboxes of the transactions to exclude.
  5. From the Batch actions drop-down, tap Exclude Selected.

For more details about this one, check out this article: Exclude expenses from downloaded bank transactions.

 

Then, clear the transactions that were created in QBO. 

 

Here's how:

 

  1. Go to Accounting on the left side menu.
  2. Choose Chart of Accounts.
  3. Click the View register link of the bank account where the transaction was added.
  4. Find and select the payroll expenses.
  5. Under the Reconcile (indicated by a checkmark) column, click the blank field until you see the letter C. This letter means Cleared and the letter is for Reconciled.
  6. Tap the Save button once done.

I've got a link here that provides you with articles about managing your bank transactions: https://quickbooks.intuit.com/learn-support/en-us/banking/07?product=QuickBooks%20Online.

 

Feel free to go back to this thread if you need a hand with reconciling your accounts or any QBO related. I'm always here to help. Take care always.

Highlighted
Level 1

Wages from Payroll won't link with Bank transactions, it's created separately so counts it double on the profit and loss report.

Hi there,

 

I would like to have the amount from the bank account showing in the profit and loss statement since that's the actual amount. Could you please let me know how I can remove the forecast from the Payroll, that's automatically generated and added to the Profit and Loss Account?

 

Kind Regards,

Highlighted
QuickBooks Team

Wages from Payroll won't link with Bank transactions, it's created separately so counts it double on the profit and loss report.

Hi Abel,

 

We'll help you match the amounts of our direct deposit transactions. However, we'll need help from Support since only them have the tools to correct the amounts.

 

You can reach them using these steps:

  1. Click on Help and choose Contact Us.
  2. In the text box, enter something like the amounts of the downloaded direct deposits on Banking are different from what's on your record. Click Let's talk.
  3. Choose Message an Agent or Get a Callback. Check our support's availability here.

As for removing the forecast and showing the actual amounts on P&L, you won't need this since the amounts will be corrected. So eventually, the amounts will match. And, please know that the bank transactions will only show on the Balance Sheet report.

 

Please let me know if there's anything you need at this point. We'll be here to continue helping you.

Highlighted
Level 2

Wages from Payroll won't link with Bank transactions, it's created separately so counts it double on the profit and loss report.

Did you ever get a resolution?  I have the same problem - double wages on P&L and am told by QB that my accountant has to sort it out!

Highlighted
Moderator

Wages from Payroll won't link with Bank transactions, it's created separately so counts it double on the profit and loss report.

Hi, KarenFritzFryer.

 

I want to make sure you'll be guided to the right support. I'd like to check this for you and get it taken care of myself.

 

However, as much as I would like to get this handled directly, payroll and bank transactions requires pulling up your account information, which I am unable to do in this public forum.

 

I know you've already called in. Nonetheless, I still suggest getting in touch with our QuickBooks Support to have the amount corrected. All account-related concerns need to be directed to our phone support for security purposes.

 

You'll first have to review our support hours to ensure they can assist you on time. Here's how: 

  1. Go to the Help menu at the upper right. 
  2. Select Contact Us
  3. Enter your specific payroll concern in the What can we help you with? box. 
  4. Click Let's talk
  5. Choose to Get a callback. 
  6. Enter your contact info. 
  7. Select Confirm my call.

Also, you might want to go through the resources below. This will provide you more information on how to review multiple and excluding duplicate transactions in QuickBooks Online as well as handling banking rules:

 

Categorize and match online bank transactions in QuickBooks Online
How to set and use banking rules for downloaded transactions

 

Feel free to reach out to us again if you have other concerns. We're here to help you. 

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