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9130 3537 0101 8826
July 12, 2022
Question

entering payroll run through Square

  • July 12, 2022
  • 1 reply
  • 0 views

I use Square payroll. I created a recurring journal template to enter my expenses and liabilities. The liabilities are not showing up on my bank register. How do I tie my payroll liabilities to my bank so they show up and I can reconcile them each month?

 

1 reply

R
RCV
July 12, 2022

Let me share some information about importing payroll transactions thru Square, @9130 3537 0101 8826.

 

The information sent to QuickBooks Online (QBO) depends on what Square shares with us. In your case, I'd recommend contacting Square Support. They can provide you with information about the posting of your payroll liabilities and how the process goes to QuickBooks Online. From there, one of their specialists can help you map your liabilities transactions so you can choose the appropriate accounts correctly.

 

Once done with re-importing the transactions, let me show you how to reconcile the account after modifying the transactions:

  1. Go to the Gear icon in the upper-right.
  2. Click Reconcile under Tools.
  3. Select the correct account and add the following information that's shown in your bank statement.
  4. Tap Start reconciling.

 

You can also check the Reconciliation report after doing the process. Here's how: 

  1. Still, on the Reconcile page, click the History by account in the upper-right.
  2. Select the Account and Report period.
  3. Click the arrow under the ACTION column.
  4. Press View reports.

 

Additionally, you can also browse for the content of this helpful article so you can get back to your bank transactions after reviewing them: What are account registers in QuickBooks Online?

 

If you have any other questions, you can always leave them in the comments below. I'll be here to address them. Stay safe!

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