Hi I'm reconciling some old accounts, and am a bit stumped on this one.
My direct deposit liability GL is very simple. The Liability Check created each payroll for direct deposits debits this GL. Then the employee check amounts credit it, with a net change of zero.
Except when it's not? I have a payroll from Dec 2019 with a net pay total that is $56.27 higher than the Liability Check. I need these debits and credits to tie out, and am stumped as to how to fix this one.
First - how is this possible? Second - any suggestions for how to fix it?
Yes, the direct deposit net check in payroll should display as a zero amount whereas the separate day prior deduction from banking paid to Intuit would be the sum of all net pay.
First, it can happen if a paycheck is modified after submission.
Second, start with some reports to identify the outlier. After that, adjusting a paycheck from last year when forms and taxes have already been submitted is not an option otger than posting tge odd amount to an employee advance and make a reversing adjustment in the next pay