Payroll Import

globetreader569 · ‎November 07, 2018

I import payroll from Intuit Online Payroll into QBO.

When I import, what date becomes relevant? The payroll process date or the actually payment date?

Let's say I run payroll on 12/31 but the DD and checks are not issue until 01/02. When I import the payroll, what date does it come in? Does it matter if I am cash or accrual accounting?

SterlingD · ‎November 08, 2018

Hey @globetreader569.

Thanks for getting back to me.

For Tax purposes, the only date that matters is the payment date. Whether you'd want to record it differently for accrual accounting would be up to you and your accountant.

Please remember, I'm always here for any other questions or concerns.

View solution in original post

SterlingD · ‎November 07, 2018

Hello @globetreader569.

I'll be happy to explain what date becomes relevant for payroll.

The date you are seeing after it has been imported is the date the payroll was ran for.

For your example, If you run payroll on 12/31 and the DD is set for 01/02. When you import the payroll, the date would show 01/02. It doesn't matter if you're cash or accrual accounting.

If you have any other questions, please feel free to reach out. I'll be here.

globetreader569 · ‎November 08, 2018

Got it - so is it always best practice to record payroll in the ledger on the pay date, regardless if cash or accrual? Are there any instances where you would accrue for payroll?

globetreader569 · ‎November 08, 2018

Got it - so is it always best practice to record payroll in the ledger on the pay date, regardless if cash or accrual? Are there any instances where you would accrue for payroll?

SterlingD · ‎November 08, 2018

Hey @globetreader569.

Thanks for getting back to me.

For Tax purposes, the only date that matters is the payment date. Whether you'd want to record it differently for accrual accounting would be up to you and your accountant.

Please remember, I'm always here for any other questions or concerns.

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