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January 26, 2024
Question

HELP... I CAN NOT TIE BACK TO PAYCHEX - HELP WITH PAYCHEX ENTRY

  • January 26, 2024
  • 0 replies
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I have Paychex Payroll and They deduct in multiple different Cash Withdrawals, HR Services, Fees, Taxes, Income. 

 

I have the Year End Pretax 401K EE Deductions

Medical Allowance as a Reimbursement/Addition

Then your typical Taxes. 

 

How do I create a journal to handle all of these items? Mine just doesn't seem to be working. 

 

Here's an example of one of the employee payroll: 

 

So for the example above, the  Employee Earnings Report Breakdown is as follows: 

GROSS PAY: 3,333.33

MEDICAL STIPEND: $175

PreTax 401K Deduction: $333..33

Fed Taxes: 410.85

State:  151.33

NET PAY: $2,436.15

 

What would the entry look like in QB.  (ATTACHED SCREENSHOT FROM PAYROLL JOURNAL REPORT)