My pay is being deducted from the wrong bank account in Quickbooks. I need to correct this on-line, but the software won't let me edit the transaction. How do I do this?

Glad to see you in the Community, dan90.

We’ll have to update the Accounting Preference and then enter a journal entry to resolve the issue. This is also to ensure the direct deposit transaction is properly recorded in your account.

Here’s how:

1. Go to the Gear icon at the top to choose Payroll settings.
2. Click on the Accounting link under Preferences.
   
3. In the Bank Account section, click on the drop-down to select the correct account.
   
4. Click OK and OK.
5. In the Want to update existing transactions, too section, review the information and then key in the correct date.
6. Press Update and OK.

Now that you’ve already updated the bank, let’s create a journal entry to transfer the funds to the correct account.

Here's how:

1. Click + New on the left panel to select Journal Entry.
2. Under the Journal date, enter the paycheck date.
3. Fill in the remaining field boxes.
4. Once done, click Save and close.

I suggest consulting an accountant on what specific accounts to use recording the transaction to ensure the accuracy of your books. To help find one, visit this link and then enter your city or zip code in the field box: ProAdvisor.

I've attached articles about tips and guide to fix direct deposit concerns as well as steps on how to edit your current payroll preferences.

• Resolve Direct Deposit Issues
• Payroll accounting preferences

Let me know if you have any clarifications or other concerns. Simply click the Reply button below to add a post. Have a good one.

A payment for what transaction are you referring to?