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sewittenauer
Level 2

"Either the Repayment account, or its parent account, is an inappropriate account type. Please check the account types in your company's Chart of Accounts." WHAT?

 
1 Comment 1
Michael K
Moderator

"Either the Repayment account, or its parent account, is an inappropriate account type. Please check the account types in your company's Chart of Accounts." WHAT?

Hey there, @sewittenauer

 

It sounds like the account associated with your Repayment pay type in the Payroll Settings isn't the appropriate type. What you'll need to do is locate the account you've assigned as the Repayment account in the Chart of Accounts and ensure it's listed as a liability account. I've included the steps for locating the account in Payroll Settings and the Chart of Accounts below. Before you change the Account Types, I recommend consulting with your accountant to ensure the accuracy of the change.

 

Step 1: Identify the Repayment Account in Payroll Settings.

  1. Go to Gear, then Payroll Settings. Under the Accounting section, select Preferences.
  2. In the list of mapped accounts, locate the Repayment account.

Step 2: Locate the Repayment Account in the Chart of Accounts

  1. Go to Accounting, then Chart of Accounts on the left menu.
  2. Locate the account you identified from Payroll Settings in the list of accounts and click Edit under the Actions column.
  3. Change the Account Type drop-down to the appropriate liability account.

That's it! Please know I'm always available here to lend a helping hand. Thank you for bringing us your questions.

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