Hi info,
We presume you want to enter payroll data from the past periods which you have not processed in the payroll module.
Please take a look at this video for more information.
If you're not using the payroll module in QuickBooks to run process payroll, you may want to create a journal entry along the following lines.You would need to manage payroll using journal entries.
We suggest that you get the following recommendations validated by your chartered accountant.You can create a payroll expense account in QBO. Please click the gear icon >> Chart of Accounts >> New >> Select Expense in Category >> next select Payroll expense and follow the onscreen instructions to complete setup of the account.
To make a journal entry please go to + >>Journal entry>> Debit the payroll account and credit the bank/cash in hand account from which salary is being paid.
A typical journal entry for salary would have the following -
***Debit "Salary/Payroll expense" A/C with the amount of gross salary
Credit TDS A/C with the amount of tax deducted at source
Credit "PF, ESI, other deductions" A/C with the amount of deductions
Credit bank account with amount of salary paid.
***if individual accounts are maintained per employee, then you should should create a sub account of the Salary/Payroll expense account and give it the employee's name. This account can be used in the journal entry above.
