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dunrobinbookkeep
May 6, 2023
Question

How to reconcile bank statements for payroll historical cheques?

  • May 6, 2023
  • 1 reply
  • 0 views
I just entered the historical data for payroll but now I need to reconcile the bank statements, how do I manually record the pay cheques?

1 reply

T
Trish_T
May 8, 2023

Hi dunrobinbookkeep,

 

Thanks for reaching out here.  QuickBooks Online Payroll enables you to enter employee's year-to-date information, so their T4 or Relevé-1 and other payroll tax forms, are accurate.  I'd be happy to provide more information here!

 

In addition to entering historical payroll information, you'll need to enter company wages and taxes for each payday in the current quarter.  Here's a helpful guide for your reference.  To ensure your transactions are reconciled, follow the steps provided here.

 

For additional assistance, please don't hesitate to contact us.  Our Customer Care team will have the ability to work with you in real time, and ensure you're able to complete your QuickBooks goals as soon as possible!

 

Schedule a Callback or start a Chat: click (?) Help in the upper right in QuickBooks Online > enter "Contact support" > hit Contact Us > provide a brief summary of your situation > hit Let's Talk > choose Get a callback or Start a Chat.

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Feel free to reach back out if you have other questions.  We're always glad to assist!

L
lvb2
May 17, 2023

This was a great question, as I'm facing the same situation.

 

QBO payroll has asked for the historical payroll data up to April 30, 2023 and also year to date, which ends up being 1 pay period later, so the numbers are close. I have seen and entered the historical tax payment information. However, Nowhere can I see an option to enter historical paycheques/ direct deposits so i can reconcile my bank account.  so i have 8 payroll cheques outstanding on my bank account and no idea where or how to enter the historical paycheques. the QuickBooks links you gave in your answer doesn't help.

 

Here is the question:

if there is no place to enter historicical payroll paycheque/ DD amounts, and if i were to enter it manually, via the journal, I would credit my bank account, but what is/are the Debits? at the moment I just put the debit to my suspense account to figure out later, so i could reconcile my bank. But there needs to be an area to input this a lot easier. (like the tax payments). 

 

thanks for your response, 

T
Trish_T
May 17, 2023

Hi lvb2,

 

Thanks for joining us here.  In your situation, I feel you would benefit by contacting our QuickBooks Online Payroll Specialists.  They'll have the ability to assist you from our end, and ensure the pay history and YTD information is entered accurately, to ensure a positive outcome on the associated payroll forms.

 

If you have any other questions or concerns, please don't hesitate to reach out again.  We're here for you!

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