Payroll accrual journal entry

I appreciate you sharing that your payroll mapping is complete, sgray. I have some information to share.

When the pay date falls in a different month and year, the payroll is considered part of the current month, even if most of the working days occurred in the previous month. With this, you can consider recording the payroll transactions every month-end. However, please seek advice from an accountant to ensure the accuracy of your financial records.

If you want to reverse a journal entry to swap the debits and credits or delete it entirely, you can access this material: Reverse or delete a journal entry in QuickBooks Online.

Please let me know if you have additional questions about payroll accrual, sgray. I'll be here to help you further.

@IrizA  "However, please seek advice from an accountant to ensure the accuracy of your financial records."

You should have just went with this.

Thanks for your reply. No wonder I couldn't find it.

Thanks for the reply. Frankly I'm surprised. Proper accrual accounting requires you to post expenses and liabilities as of the date it's incurred, not when you pay it. I suggest a future update includes an option to post the payroll as of the period end instead of the check date. 

Oops. Sorry, the suggestion was meant for the QB team. 

@sgray98660-gmail 

"Proper accrual accounting requires you to post expenses and liabilities as of the date it's incurred, not when you pay it. I suggest a future update includes an option to post the payroll as of the period end instead of the check date."

Agreed, but I think it's still a feature that exceeds the expectation of $1,200-$2,500/year accounting software.  QB has historically been considered inexpensive and basic accounting software and automatic payroll accruals are not a basic function, especially when you're dealing with the associated tax accruals, PTO accruals, health benefit accruals, etc. QB started as a desktop product and as recently as 2021 you could buy a lifetime license for QB Desktop for ~$300 plus the payroll subscription.  IMO, for that minimal cost, it's not reasonable to expect payroll accruals to be a part of its functionality.  QB Online (QBO) is very loosely based off the desktop product so the functionality is still lacking.