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Qb with payroll linked to bank checking. P&L shows almost double payroll cost because payroll is shown into p&l when run. Also when employees cash checks or DD. Fix?

qb with payroll linked to bank checking. If I review linked banking transactions and accept the payroll checks or direct deposit debit. P&L now shows almost double payroll cost because the payroll checks/DD are being enter again. With linked banking. How is this fixed? Is there a way to have linked banking know that the payroll and taxes have already been accounted for in P&L?
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QuickBooks Team

Qb with payroll linked to bank checking. P&L shows almost double payroll cost because payroll is shown into p&l when run. Also when employees cash checks or DD. Fix?

Hello there, jjdame.

 

To fix this, you can exclude the payroll transactions in the banking section. This way, they will not show up twice in your Profit and Loss report.

 

Here are the steps:

  1. On the left panel, click Banking.
  2. From the Banking tab, click the For Review tab.
  3. Find the payroll transactions and check the boxes so it will be selected.
  4. Click the Batch Actions drop-down list, and select Exclude Selected.

Once excluded, you will still be able to undo the transactions in the Excluded section.

 

You can also check this article for more information: Exclude downloaded bank transactions.

 

I'll be around if you have any other questions about QuickBooks. Thanks.

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Level 1

Qb with payroll linked to bank checking. P&L shows almost double payroll cost because payroll is shown into p&l when run. Also when employees cash checks or DD. Fix?

Can we exclude the paychecks instead of the bank transactions? Part of that total gets allocated to taxes and Its easier to let the bank account allocate which is taxes and which is salary when the transactions hit the bank. But with paychecks, those are there for no reason.

Highlighted
QuickBooks Team

Qb with payroll linked to bank checking. P&L shows almost double payroll cost because payroll is shown into p&l when run. Also when employees cash checks or DD. Fix?

Hi @bryantcapitalsolutions,

 

I'll take care of this query for you. 

 

The paychecks themselves, generated within the system whenever you run payroll doesn't go through the Banking page. With that said, there isn't an option to exclude them. I suggest you follow the steps provided by my colleague, @RenjolynC, above for this situation. 

 

On the other hand, if you find out you have missing bank online transactions, see this article: What to do if you can’t find downloaded bank transactions. This provides you 4 different sets of steps to resolve this kind of issue, including the process of manually uploading bank transactions. 

 

Feel free to place a comment below, if you have other queries in mind. I'll get back to you as soon as I can. 

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