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Level 1

reconciling payroll with bank statement

needing to know how to correctly account for partial paycheck. I actually pay myself a standard paycheck as with our standard employees. Here's the tricky part: I have it set up for our BANK to auto deposit a flat $300.00 every week to my personal account from the business account as my paycheck. However, my paycheck is for more than the $300.00 but I never actually receive the full amount. How do I account for the remaining balance?

example: paycheck = $410.00, money withdrawn = $300.00, $110.00 to remain in company bank account for business use. 

So, my bank statement shows the $300.00 but my QB payroll shows the $410.00.

2 Comments 2
Frank N
Level 1

reconciling payroll with bank statement

I think QuickBooks is taking out your federal taxes. I pay myself $400 per week. I would print out a hard check each week. The amount of the check was for $344. I didn't have direct deposit until yesterday. 

My new check amount is $322. Because my state withholding is now being taken out.

I don't know how to pay the taxes though.

QuickBooks Team

reconciling payroll with bank statement

I'd be glad to help you pay your payroll taxes, Frank.


You just need to follow these steps on how you can create a tax payment in QBO:


  1. Go to Taxes menu and select Payroll Tax.
  2. Click Pay Taxes.
  3. Look for the tax that you want to pay, then click Record payment.
  4. Follow the succeeding prompts to create and print the liability check.

You can also sign up for e-services so you can pay your taxes electronically. Here's an article as a guide: Pay And File Payroll Taxes Online.


Feel free to check out these additional articles as more for more details about tax payments:


Let me know if you need more help when running payroll in QuickBooks. 


pay tax.PNG


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