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Single entry payroll expense

Forum|Forum|5 years ago
May 5, 2021
8 replies
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Hello, I need to recognize the payroll expense as a single entry, lets say $500 weekly (we don't use QB payroll). The tax deductions are entered as a total expense as taxes, not in a particular employee. So I enter the employee name as a "vendor" and categorized as Payroll Expense Account. Not sure why, maybe it's due to rules, some transactions are being entered as deposit and other as expense, so the result is a wrong P&L.

How should I enter these?, see print screen for better understanding.

Thanks,

QuickBooks Online

Best answer by MaryLandT

I can guide you through how to record those payroll expenses in QuickBooks Online (QBO), websoftpr.

You need to create a journal entry when entering payroll expenses you've processed outside of QBO. You'll want to start over by deleting those deposits and expenses.

To ensure that those transactions are categorized correctly, you need to create these accounts on your Chart of Accounts:

Expense accounts:

Payroll Expenses: Wages
Payroll Expenses: Taxes

Liability accounts:

Payroll Liabilities: Federal Taxes (941/944)
Payroll Liabilities: Federal Unemployment (940)
Payroll Liabilities: [State] SUI/ETT
Payroll Liabilities: [State] PIT/SDI

Please check out this article to learn what accounts to debit and credit: Manually enter payroll paychecks in QuickBooks Online. It provides instructions and detailed steps.

Once all transactions are recorded in QuickBooks, you can start reconciling your bank accounts.

Let me know if there are other things you need with recording payroll expenses. I'm always right here to guide you through the process.

MaryLandTAnswer

Level 10

I can guide you through how to record those payroll expenses in QuickBooks Online (QBO), websoftpr.

You need to create a journal entry when entering payroll expenses you've processed outside of QBO. You'll want to start over by deleting those deposits and expenses.

To ensure that those transactions are categorized correctly, you need to create these accounts on your Chart of Accounts:

Expense accounts:

Payroll Expenses: Wages
Payroll Expenses: Taxes

Liability accounts:

Payroll Liabilities: Federal Taxes (941/944)
Payroll Liabilities: Federal Unemployment (940)
Payroll Liabilities: [State] SUI/ETT
Payroll Liabilities: [State] PIT/SDI

Please check out this article to learn what accounts to debit and credit: Manually enter payroll paychecks in QuickBooks Online. It provides instructions and detailed steps.

Once all transactions are recorded in QuickBooks, you can start reconciling your bank accounts.

Let me know if there are other things you need with recording payroll expenses. I'm always right here to guide you through the process.

A

AALORL

If we use Quickbooks to process all the payroll and taxes, we do not need to do these things, correct? As in, no need to enter a paycheck under "Expenses" if QB did all the work- its done by QB and all we have to do is run the payroll. Former in house bookkeeper was entering paychecks and the taxes paid as expenses and I cannot figure out why

Angelyn_T

Moderator

Hello,

Our system seems to be creating payroll entries and an expense entry & we cant figure out why -

03/24/2023

Expense

$3,374.33

05/12/2023, 03:17 PM

03/24/2023

Payroll Check

DD

$3,374.33

03/23/2023, 03:29 PM

I'm thinking that the expense entry should be deleted because its doubling the company expense number. I have an entry in the wage expense & the professional service account.

Thank you for joining the thread today, Goodjam99. Allow me to assist you in taking the appropriate steps to correct the payroll and expense entries posted to your bank account.

Yes. You can delete the expense entry to avoid duplicate calculations.

Here's how:

Open the transaction.
Click More, then Delete.
Hit Yes to confirm the action.

If one of these entries appears on the Banking page, you may match them instead.

Click on Banking, then go to the Banking page.
Look for your account.
Tap on For review.
Select the transaction, then Find match.
Follow the onscreen pop-ups to proceed.

Either of the options stated above will resolve the issue.

On the other hand, you can always visit your Audit Log report to spot unnecessary transactions that were recorded in your file to avoid incorrect calculations and duplicate records. From there, you can also examine the transactions added by each user and the ones that were removed or altered. You can check out this article as your guide: Use the audit log in QuickBooks Online.

If you have further concerns about payroll or other transactions, please leave them in the comment section below. I'm more than happy to help. Have a great weekend!

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