For the purpose of issuing our Jan 15th paychecks on time, I prepared manual paychecks. (I needed time to be sure my payroll list was accurate and updated for 2024.)
We have a handful of employees so preparing manual checks and pay stubs were not an issue. I charged each net paycheck to accrued payroll until I could finalize and update the payroll information with a journal entry.
If I were to use Edit to Payroll Checks to record each employee's manual check and include all of their payroll items (so their W-2 would be accurate at the end of the year), would it tally up to what the journal entry totals should be (other than the net pay, which I charged to the accrued payroll instead of the Bank account)?
Thank you in advance.
