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Newbie14
Level 1

Journal entry for payroll

I paid the wrong employee with direct deposit. He returned the money, I then voided his check. How do I journal entry this, keep in mind I am not an accountant. Thanks

1 Comment 1
Joesem M
Moderator

Journal entry for payroll

Welcome and thank you for posting here in the Community, @Newbie14. It's my pleasure to answer and help with your concern today.

 

You don't have to create a journal entry since the paycheck created is already voided. The amount will automatically return to your bank register.

 

For now, you can create the paycheck again and make sure it's the correct employee. I've outlined the steps below for updating their preferences.

 

  1. Go to Employees then Employee Center in the top menu.
  2. Double-click the employee's name.
  3. Select the Payroll Info tab.
  4. Hit the Direct Deposit button.
  5. In the Direct Deposit window, click Use Direct Deposit for [employee's name].
  6. Choose whether to deposit the paycheck into one or two accounts.
  7. Enter the employee's financial institution information (Bank NameRouting No.Account No., and Account Type).
  8. If you chose to deposit to two accounts, enter the amount or percentage that the employee wants to deposit to the first account in the Amount to Deposit field. The remainder goes to the second account.
  9. Hit OK to save the information.
  10. Enter your direct deposit PIN when prompted.

 

For more details, check out this article: Set up direct deposit for employees.

 

You might want to read this article to learn how to manage payroll schedules: Set up and Manage Payroll Schedules.

 

Furthermore, there are various payroll reports available in QuickBooks that give you snapshots of different areas of your business. You can also customize them and focus on the details that matter the most to you.

 

Get back to me anytime if you have other Direct Deposit questions. I'm more than willing to assist you. Take care and have a nice day ahead, @Newbie14.

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