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Jh7
November 15, 2022
Question

Worker's comp through Paychex and not being able to reconcile those charges against bank account - HELP!

  • November 15, 2022
  • 3 replies
  • 35 views

Hello,

I've been struggling with this for weeks and really hope someone can help.  We switched our workers comp over to come through Paychex.  I thought I could enter the workers comp under Payroll: Workers Comp category in the journal entry for payroll - but the problem is when I go to reconcile the bank account, that workers comp charge is showing up on the bank statement to reconcile, but the workers comp charge isn't showing up in QB.  How should I be entering it in QB so I can reconcile it against the bank account and still have it in the right category under workers comp insurance.  Thank you!

3 replies

RCVQuickBooks Team
QuickBooks Team
November 15, 2022

Let me help you enter the Workers Comp transactions so you can reconcile them against the bank account and have it in the right category under workers comp insurance, Jh7.

 

Since you switched your worker's comp over to come through Paychex, the information will always depend on how they share it on QuickBooks Online (QBO). We can set up your worker's comp payments manually to show the worker's comp charge in QBO. Just go to the Employment section to accomplish this task. Please note that this will depend on the service you're using, such as a state fund of a different insurance provider.

 

Then, QuickBooks will sort the report by employee name, not by class if you won't enter a class name. Here’s how:

 

  1. Tap the Payroll menu on the left panel to select Employees.
  2. From the list, click on the worker’s name to view more information.
  3. Hit the Pencil icon for Employment and go to the Worker’s comp class field to enter its name.
  4. Click Done.

 

On the other hand, our partner AP Intego can help you set up the insurance. Just request a quote by going to Intuit's workers' comp page. It will also provide an overview of the insurance for additional information. Then, run the Worker's Compensation report:

 

  1. Go to Reports.
  2. In your Search field, enter "Workers' Compensation", then choose Workers' Compensation from the displayed drop-down list. You can also find it by scrolling down to your Payroll section and selecting it.
  3. Specify an appropriate date range and hit Run report.
  4. Select your Wages Paid amount for a particular Workers' Comp class to get a breakdown of wages per employee.

 

If you decide not to enter classes for employees, the report will be sorted by employee name. Once done, try reconciling your bank account to see the worker's comp charge showing up on the bank statement to reconcile. 

 

I've additionally included a couple of detailed resources about working with workers' compensation which may come in handy moving forward:

 

 

Please know that I'm only a few clicks away if you have any other questions or concerns. I'll be here to help. Have a great rest of the day!

Jh7Author
November 15, 2022

Hi, 

 

Thank you so much for the quick response!  I'm not sure this will work though (I did try to follow the instructions you provided but I don't see a worker's comp field for each employee).  Also, the charge from Paychex is a single charge per pay period (not broken out by employee, and that's how it shows up in our bank statement).  Here's what I've been doing but it still doesn't seem to be right.

JessT
JessTModerator
Moderator
November 15, 2022

Hi Jh7,

 

I appreciate the additional information. I recommend having our QBO Payroll support review your records because of the differences between Paychex and QBO's methods for posting for workers' compensation. Please get in touch with them during the week and request for a screen-sharing session.

 

  1. Click on Help and click the Search tab.
  2. Click Contact Us at the bottom.
  3. Enter a summary of the issue and click Continue.
  4. Choose Start a chat or Get a callback.
     

If you need more references for payroll, you can visit the main support page, scroll down a bit, and click More Topics.

 

I'm only a comment away if you need more help with QuickBooks. Take care and have a good one!

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