cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Community Champion

QBO Payroll: Be careful with set up and connecting your payroll bank account

 

I have had two customers with this issue. They sign up with QBO payroll (Full Service or Enhanced).  They click the workers tab, follow the instructions to get going with Payroll  and  link their payroll bank acct.  They see the debit and verify it.  All good, right?  Well not always. It never sends you to gear>payroll settings>accounting>bank acct. to select the actual account for the entry of the payroll check tranactions. 

 

By default, QBO grabs your top bank account. For my latest customer, that was his Savings account. Whoops! You  notice (after payroll is processed) that the paychecks are in the wrong bank acct. in QuickBooks yet they cleared the correct bank account at the bank level.   

 

The fix (and it is a bit ugly) is to create transfers from the bank acct. that the checks did clear from to the bank acct. that QBO new payroll settings put them in.   I called payroll support on the first client this happened with and was told "there is no way to change the paycheck bank account once it is entered into QBO".  Even they cannot change it.   Watch the video for a live view of the "fix".   Here is the blog post that goes with the video. Enjoy!  

1 Comment
Highlighted
Anonymous
Not applicable

QBO Payroll: Be careful with set up and connecting your payroll bank account


Well not always. It never sends you to gear>payroll settings>accounting>bank acct. to select the actual account for the entry of the payroll check tranactions. 

 

This is so important! These kinds of during initial set up are so critical for saving time (and headaches) down the road. Going to emphasize this again: 

 

Gear Icon > payroll settings > accounting > bank acct

Need to get in touch?

Contact us