Moving payroll amount out of one month into a prior month
I need someone with some real accounting expertise regarding a journal entry. We need to move our payroll amount for the current month into the prior month. In QBO, the second payroll of each month falls in the wrong month due to the date of our direct deposit. Since we cannot change it, QBO said we could do a JE, but we cannot figure out how to take it out of January 2022 and put it into December 2021 without canceling each other out. We also need to make sure it goes out and back into the same accounts, just in a prior month. Good Luck!
Moving payroll amount out of one month into a prior month
"In QBO, the second payroll of each month falls in the wrong month due to the date of our direct deposit."
Why are you moving payroll back a month? The date of the direct deposit is the pay date, both for your expense and the employee's income. If the direct deposit occurred in January, you can't move payroll back to December - unless you're ok with the IRS asking questions.
Sign in for expert help
Ask questions, post replies & join our community of QuickBooks users.
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.
