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Level 1

Bank drafts for payroll and paycheck dates are in different months which causes an issue with reconciliation

Prior to switching to a new bank, I would set a payroll ACH on the Wednesday prior to the Friday pay date for my employees. The bank would draft my account and pay my employees on the same date (that Friday). The new bank drafts my account on the Wednesday I set the payroll up, not the day my employee’s are paid, essentially holding my money for 2 days. I didn’t think much of it until I tried to reconcile. There was a 10/2/20 pay date that was setup on 9/30. The bank drafted my account on 9/30, but the paychecks don’t show in my register until the actual pay date of 10/2. I can’t get the reconciliation to work out because the draft is in September and the pay date is in October…. Any ideas on how to correct this?



1 Comment

Bank drafts for payroll and paycheck dates are in different months which causes an issue with reconciliation

Hi there, @JPBabyRange.


I’m here to lend a hand in reconciling your bank account to match the payroll check.


In order to reconcile the account accurately, you'll need to based transactions on the cleared one on your bank and not the uncleared. Since the date you initiated the payment is all that matters. 


What you can do is to check off the items that cleared the bank on the statement and leave the other's unchecked upon reconciling. 


For guidance, here's a great resource that you can check since you'll be reconciling: Reconcile Hub.


In case you'll encounter any issues when reconciling, visit below links which you may find helpful:

You can read through this article for more details in troubleshooting reconciliations: 

If there's anything else that I can help you with, please don't hesitate to add a comment below. Have a nice day.

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