cancel
Showing results for 
Search instead for 
Did you mean: 
JSchildbach
Level 1

Payroll transactions of Gross & Net showing up in the same category on my reports.

Hello, So the issue that I am having is that when I was assigning expense transactions coming through from our bank account. I assigned our Net Payroll into our Payroll Expenses: Wages folder. When running our P&L Report, it is now showing both the Gross Pay and the Net Pay totals combined in the same folder. Which is bringing up our total wages on the report by almost double what it should actually be. 

 

I am wondering if anyone can please assist with some advice on where we should be assigning the Net Payroll bank transaction in Quickbooks so that it doesn't affect the integrity of the report?

 

Any help with this would be greatly appreciated.

Thank you!

2 Comments 2
JoesemM
Moderator

Payroll transactions of Gross & Net showing up in the same category on my reports.

Thanks for joining the Community space, @JSchildbach.

 

You can double-check if the Gross Pay transactions are also assigned to your Payroll Expense account. This way, we'll know why your total wages on the report got doubled.

 

Also, you can choose another Payroll expense account and assign the Net Pay transactions. However, I'd suggest consulting your accountant on what account to choose to ensure the accuracy of your book. You can also find an accountant here: Find an Accountant: QuickBooks ProAdvisor - Intuit.

 

I've included these articles that will provide you steps on how to print and mark a report as a favorite in QuickBooks Online:

 

 

You can read through these articles to know more about bank feeds and how to reconcile your account in QuickBooks:

 

 

I'm always around to lend a hand if you have more questions about managing your payroll reports or any concerns with QBO. Just tag my name in the comment section so I can assist you further. Take care and have a good one.

 

Mona16
Level 1

Payroll transactions of Gross & Net showing up in the same category on my reports.

This is poor advice because Gross Pay shouldn't be in your P&L--Net Pay plus Employer taxes should be in P&L. 

Sign in for expert help
Ask questions, post replies & join our community of QuickBooks users.

Need to get in touch?

Contact us