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I understand how important it is to ensure that your payroll transactions are accurately reflected in the reconciliation list, Phil. In QuickBooks Online (QBO), you can check the Payroll settings to verify that payroll transactions are assigned to the correct bank account.
Payroll transactions may be assigned to an incorrect account, which can prevent them from appearing in the reconciliation list. Check the Bank account used for payroll transactions and direct deposits to ensure it matches the account where your direct deposit payments are recorded.
Here’s how to check:
- Click the Gear Icon, then select Payroll Settings.
- In the Accounting section, click the pencil icon.
- Under Paycheck and Payroll Tax Payments, review the bank account to confirm it is correct.
If payroll transactions are assigned to the correct bank account but still don’t appear in the reconciliation list, clear your browser’s cache to refresh the website preferences. Once the cache is cleared, attempt to manually match the entry and use the filter options to locate it.
If the account is incorrect, update it to the correct bank account to ensure future transactions are posted properly.
You can also review your employee’s paycheck list to confirm whether the transactions are posted to the correct bank account. If the account is incorrect, please note that past payroll transactions cannot be directly updated. With that said, I recommend consulting your accountant for guidance on creating a journal entry to correct the posting and maintain accurate financial records.
If you have follow-up questions, don’t hesitate to revisit this page.
