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Level 1

How to match Payroll journal enteries with bank account?

Hello,

The situation i have is: i created a payroll, once the payroll is finalized, it creates a journal entry in the Account "Wage Expenses".

Now, after i paid the employees, in the "banking" section, under "for review", the actual payment appears there. If i add this amount as "Wage Expenses", in the "Wage Expenses" there will be two instance of this payment, one from payroll marked as journal entry, one from banking marked as expense.

I can see there is a "find match" option in "for review", but it doesn't find the journal entry so i can't match them.

 

What am i doing wrong?

 

Thanks!

 

3 Comments
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Community Champion

How to match Payroll journal enteries with bank account?

hello @Alex1993:

 

Just exclude the duplicates and reconcile the journal entries.

 

lynda

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Level 1

How to match Payroll journal enteries with bank account?

Lynda, 

 

Could you tell me how to exclude the duplicate in order to reconcile?

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QuickBooks Team

How to match Payroll journal enteries with bank account?

Hey there, @Lauren123.

 

I'm happy to provide the steps on excluding bank transactions.

 

Exclude transactions

  1. Choose Banking.
  2. On the Banking page, select the For Review tab.
  3. Select the check-boxes of the transactions to exclude.
  4. From the Batch actions drop-down, choose Exclude Selected.

Excluded transactions are listed on the Excluded tab for reference or review, but are not tracked or reported as part of your business finances and don't appear in any associated account registers or reports.

 

Include previously-excluded transactions

 

If you have accidentally excluded a transaction, you can easily include it again:

  1. Choose Banking.
  2. On the Banking page, select the Excluded tab.
  3. Select the check-boxes of the transactions to include again.
  4. From the Batch actions drop-down, choose Undo.

The transactions are returned to the For Review tab where you can categorize, add, or match the transactions again.

 

Excluded transactions and reconciliations

 

Excluding duplicate transactions does not affect reconciliations. If you exclude a downloaded transaction because it's a duplicate, when you reconcile the account, your balances will match. If you exclude transactions for personal expenses, your bank register won't reconcile because the bank balance and the QuickBooks balance won't match.

This is not an issue if you don't reconcile your bank statements with QuickBooks Online, but if you do (or if your accountant instructs you to do so), you can track your personal expenses by adding yourself as a vendor and assigning the transactions to an owner's equity account (often called an owner's draw).

 

If you run into any bumps along the way, I'm only a reply away. Thank you for reaching out to the Community.

 

 

 

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