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Level 1

Profit and Loss shows "salary and wages" incorrect. Clicking on the number value brings up journal. It's showing debit and credits, but they are being added together??

Showing total debit for salary on line 1, then lower on journal shows credit for salary. Profit and loss report adds them together for some reason, which essentially doubles my salary outgoing.
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QuickBooks Team
QuickBooks Team

Profit and Loss shows "salary and wages" incorrect. Clicking on the number value brings up journal. It's showing debit and credits, but they are being added together??

Let's investigate what's causing the salary and wages incorrect in the Profit and Loss report, userjames1.

 

The amount that shows on your Profit and Loss report should match with the wage amounts on the payroll transactions. There may be duplicate payroll transactions causing the salary increase in your report.

 

To better isolate this issue, let's verify the transactions that are generated on your Paycheck Lists report with the profit and loss to see it's correct. Just run both reports and compare them. If you've found any duplicate transactions, we need to review the amounts to determine where does it coming from. 

 

If the amounts are from the downloaded transactions, let's make sure we don't add them since it creates duplicate entries. Instead, match the amount to the existing payroll records in Quickbooks Online (QBO).

 

Feel free to visit our Financial reports page for more insights about managing your reports in your account.

 

I'd like to know how you get on after trying the steps, as I want to ensure this is resolved for you. Feel free to reply to this post and I'll get back to you. Take care always.

Highlighted
Level 1

Profit and Loss shows "salary and wages" incorrect. Clicking on the number value brings up journal. It's showing debit and credits, but they are being added together??

I don't use the QBO for payroll, so this information is straight out of my bank, or manual entry. I have three clips to show what I see. 

 

P/L report shows a total of $20,019 for Salary/Wages. (photo 1)

snip 1.PNG

 

 

Selecting the amount brings up the transaction log (photo 2)

snip 2.PNG

 

 

Selecting the amount will further bring up details on that transaction (photo 3)

snip 3.PNG

 

It's like somehow it's doubling the amount. But on photo 3 it shows debit and credit, which should balance out, not double up. ? To clarify the detail in photo 3, row 1 is the total payroll amount, row 2 is the payroll tax amount. Then we have four payroll deduction ($125), rows 3-6.  Rows 7 & 8 show credits in the amount of the actual withdrawal for the payroll, minus the deductions. 

 

Thank you for your help!

 

 

 

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