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dscanlon
Level 1

Curious how to handle 2019 401k payments that were made in Feb 2020. They are appearing on my 2020 P/L. do i just change the date to Dec 31/2019?

 
1 Comment 1
Jen_D
Moderator

Curious how to handle 2019 401k payments that were made in Feb 2020. They are appearing on my 2020 P/L. do i just change the date to Dec 31/2019?

Thanks for reaching out to us about your tax payment posting, @dscanlon,

 

The Profit and Loss report in QuickBooks reflects the date on when the transactions are entered. If the payment was recorded in February of this year, the report will post it for this calendar year's data. This is regardless of what period the payment is intended for.

 

Before changing the date of the entry, make sure to discuss this with an accounting professional. We want to make sure your books are handled properly. This method might affect your reconciliation for last year the the current period.

 

If you don't have an accounting professional with you, we can help find one within your area. You can use this link to find someone to help you with your entries: https://quickbooks.intuit.com/find-an-accountant/

 

Pleas get back to me if you have other concerns abount payroll and QuickBooks. Have a nice day!

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