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Sarah_InnMill
February 13, 2023
Question

Items Posting To Wrong C.O.A. Account

  • February 13, 2023
  • 1 reply
  • 0 views

About a year ago, our bank was sold to another institution. The first bank didn't have connection abilities to QBD. The new bank does. After switching from QBD to QBO, I realized that transactions I had manually entered, including payroll, were posting incorrectly to the checking account. At the same time, the items I downloaded were posted correctly to the Huntington account. How do I change the incorrect posting? I tried to edit the entries, but QBO won't let me edit the accounting field.

1 reply

R
RoseJillB
February 15, 2023

Thank you for joining this forum to get assisted with altering your payroll accounting preferences in QuickBooks Online (QBO), Sarah.

 

Since the payroll transactions are posted to the incorrect account, this must be because of your payroll account preferences set in QBO. In this, you can create a Journal Entry (JE) to move the transactions to the correct category. By doing so, I suggest you consult your Professional Advisor to guide you further.

 

Once done, you can change your accounting preference on the payroll settings. This way, the following transactions will be posted to the correct account:

 

  1. Go to the Gear icon and select Payroll settings.
  2. In the Accounting field, click the pencil icon to edit.
  3. Tap the pencil icon to update a specific section.
  4. From there, choose which specific account the payroll item should go to. Then, select Continue.

 

I also added this article for more details: Change your accounting preferences in QuickBooks Online Payroll.

 

Furthermore, you can also pull up a variety of payroll reports in QuickBooks. This will give you a closer look at your employee's total wages, deductions, and tax information in a certain period. For the complete list of available payroll reports and how to pull them up, kindly refer to this article: Run payroll reports.

 

Feel free to add a comment if you have more questions about payroll. The Community always has your back. Have a good one!

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