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beverlybloom-afl
Level 1

If a payroll tax payment is on the bank statement, but not the register, how do I enter it to balance the account

 
2 Comments 2
CharleneMaeF
QuickBooks Team

If a payroll tax payment is on the bank statement, but not the register, how do I enter it to balance the account

I'll gladly show you the way to enter the tax payment, beverlybloom-afl.

 

Before proceeding, is your bank account connected to QuickBooks? If so, let's manually update it to download the data. I'll show you how.

  1. In the left menu, click Banking or Transactions.
  2. Go to the Banking tab.
  3. Click the Update button on the right-hand side of the screen.
    Capture.PNG

If not, you can create a journal entry to enter the tax payments. Before doing so, you'll have to make sure the correct account is selected. This ensures your record is accurate. 

  1. Click the Gear icon in the upper-right corner.
  2. Under Your Company, select Payroll Settings.
  3. Go to the Preferences tab.
  4. Hit Accounting Preferences.
  5. Next to Bank Account, choose the correct account.
    Capture2.PNG

Aside from that, you can also decide how you'll want to record the payments. I'd suggest consulting an accountant for expert advice.

 

In case the tax payments are recorded outside QuickBooks, we'll have to manually enter them into the program. If you don't have payroll, you can directly add them to the Register. Here's how:

 

  1. Go to the Accounting menu and then select Chart of Accounts.
  2. Locate the bank account, then click View Register.
  3. From there, you can add the transactions.
  4. Once done, click Save.
    Capture1.PNG

 

Additionally, I've added these articles that'll help you stay informed about running and managing payroll in QuickBooks Online.

 

 

Feel free to comment down below if you have any other concerns or questions about recording tax payments, beverlybloom-afl. I'm always glad to help in any way I can.

CharleneMaeF
QuickBooks Team

If a payroll tax payment is on the bank statement, but not the register, how do I enter it to balance the account

Hi beverlybloom-afl,

 

Hope you’re doing great. I wanted to see how everything about adding your payroll tax payments in QuickBooks Online. Do you have any clarifications? If you do, just let me know. I’d be happy to help you at anytime.

 

Looking forward to your reply. Have a pleasant day ahead!

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