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mfaber
Level 1

Change what accounts DD information goes to

Using quickbooks online, payroll is run bi-monthly.  Quickbooks is automatically putting the DD info including taxes, gross salary, etc in Loan Payable.  I don't want it there.  How can I change this?

3 Comments 3
MaryLurleenM
Moderator

Change what accounts DD information goes to

Changing your payroll accounting preferences is easy, mfaber.

 

Just follow the steps below and you'll be good to go:

  1. Click the Gear icon.
  2. Select Payroll Settings
  3. Select Accounting Preferences. Choose your desired account name from your Chart of Accounts from the drop-down.
  4. Select OK after choosing all your desired accounts.
  5. You will receive a confirmation screen that your accounting preferences have been updated.

If you still need to set up a payroll account,

  1. Click the Gear icon.
  2. Select Chart of Accounts.
  3. Select New in the upper right corner of your screen.
  4. Choose Expenses from the Account Type drop down menu.
  5. Select Payroll Expenses from the Detail Type drop down menu.
  6. Type in the name of the Payroll expense or liability account in the Name field.
  7. Select Save and Close.

Stay in touch with me if you have other questions.

mfaber
Level 1

Change what accounts DD information goes to

Is there a way to have Quickbooks NOT post the direct deposit/taxes information to any account? I'd rather just do it manually when I import my bank account activity each month.   We are a cash basis.  Quickbooks is putting payroll taxes to a liability.  I just want it to go to an expense when it's actually paid.  I don't see this option in the drop down boxes. 

Angelyn_T
QuickBooks Team

Change what accounts DD information goes to

Thank you for getting back to us here on the Community page, @mfaber.

 

At this time, we need to choose the desired account from the Accounting Preferences to track your wages, taxes, liabilities, and other payroll transactions accordingly. QuickBooks adds/puts the taxes to the liability account to track and know how much taxes you owed.

 

For more information about payroll accounting preferences, check out these articles:

 

 

Let me know if you have any other questions. I'm always here to help. Have a good day!

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