Payroll

obscuredjinn · ‎February 14, 2022

We use T-Sheets to track our Payroll but use an outside company to actually process the paychecks, etc. Are we duplicating our Payroll expense amounts by both importing the T-Sheets employee expense as well as the actual check amount from the outside company? Thanks so much!

MirriamM · ‎February 14, 2022

Thanks for posting in the Community space, obscuredjinn. I'm here to lend a hand.

If you track the paychecks you process in T-Sheets, then there's no need to import the actual check amount from the outside company on your QuickBooks account. By doing this, you'll avoid duplicate data since you'll import the T-Sheets employee expenses.

Additionally, if you want to connect your TSheets and QuickBooks Online account in the future, here's a helpful article that you can visit on how to: Integrate TSheets and QuickBooks Online.

As always, feel free to reach out to us again if you need more help from us. We'd be happy to guide you again.

View solution in original post

MirriamM · ‎February 14, 2022

Thanks for posting in the Community space, obscuredjinn. I'm here to lend a hand.

If you track the paychecks you process in T-Sheets, then there's no need to import the actual check amount from the outside company on your QuickBooks account. By doing this, you'll avoid duplicate data since you'll import the T-Sheets employee expenses.

Additionally, if you want to connect your TSheets and QuickBooks Online account in the future, here's a helpful article that you can visit on how to: Integrate TSheets and QuickBooks Online.

As always, feel free to reach out to us again if you need more help from us. We'd be happy to guide you again.

obscuredjinn · ‎February 14, 2022

Thanks Mirriam -

UGH I think we've been doing it incorrectly for years now as we import the timesheet amounts, but also reconcile the check in our banking deposits as the outside company pays all of our payroll taxes, insurance, etc, plus their fee. I am going to have to think about this now...but thanks!

Teri · ‎February 14, 2022

Ideally, the Timesheet entries should debit Labor Expense accounts and credit Accrued Payroll Payable.

Then when payroll is paid, you record that payment as a debit to Accrued Payroll Payable and credit Cash.

This helps to ensure that labor expense in QB matches payroll paid in payroll system, as it aways should.

Same for payroll taxes, first record JE to debit payroll tax expense accounts with credit to liability account called Accrued Payroll Taxes Payable. Then when payroll is paid, record entry for that payroll tax payment with a debit to Accrued Payroll Taxes Payable and credit Cash for amounts paid.

Topics

Training

Community

Resources

Payroll

Payroll

Payroll

Payroll

Payroll

Need to get in touch?