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May 2, 2021
Question

A payroll check was processed from the wrong bank account. How do I correct and adjust the balances of the two bank accounts?

No text available

10 replies

QuickBooks Team
May 3, 2021

Welcome aboard to QuickBooks Community, @eprman. 

 

We can go to your payroll setting to correct fix this issue. Let me show you how:

  1. Go to the Gear icon and select Payroll Settings.
  2. Click Preferences.
  3. Select Accounting Preferences.
  4. In the Checking Account drop-down arrow, select the correct account.

If payroll were posted to the wrong bank account, then you'll have the option to create a journal entry to transfer the funds to the correct bank account other than delete and recreate the paycheck or taxes in QBO.

 

To create a journal entry:

  1. Select + New.
  2. Select Journal entry. 
  3. Fill out the fields to create your journal entry.
  4. Select Save and close.

Reach out to your accountant if you need help with the associated accounts. 

You can check out the matching payroll payments on how to easily add and match journal entries to transactions from your online bank account. 

 

You can also refer to this article for your future reference: Manually enter payroll paychecks in QuickBooks Online. 

  

Stay in touch if you have any other questions. Please know I'm here anytime to help. Have a great rest of your day.

New Member
December 1, 2021

can u provide journal entry example to correct in books

December 6, 2021

Thank you for joining the thread, @sullivanchan007. Let me point you in the right direction for help with your concern about payroll in QuickBooks Online.

 

You can contact payroll support by following the steps below:

 

  1. Sign in to your QuickBooks Online company.
  2. Go to Help (?).
  3. Select Contact Us and enter your concern, then select Let’s talk.
  4. From there you can choose a way to connect with us.

 

Add your transactions to the correct account and start reconciling. You can utilize this article to review your account, compare your statement, and review past reconciliations in QuickBooks Online.

 

Hit me up when you need further assistance with your payroll. The Community always has your back. Have a great day!