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debbie44
July 29, 2021
Question

How do I reconcile bank account when using journal entries for payroll because of outside payroll service?

  • July 29, 2021
  • 1 reply
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1 reply

MJoy_D
MJoy_D
July 29, 2021

Let's record those payroll paychecks accordingly to reconcile your bank account successfully, @debbie44.

 

You’ll just have to make sure that the net paycheck will be posted to the right bank account so that you can reconcile those accounts. 

 

To record it, simply list out those paychecks individually as credits to the bank account. For detailed guidance in creating a journal entry for paychecks you create outside of QuickBooks, refer to this article: Manually enter payroll paychecks in QuickBooks Online. 

 

Once you're done, you can now reconcile your accounts. For detailed guidance in reviewing your opening balance, start reconciling, and comparing our statement with QuickBooks, check this article: Reconcile an account in QuickBooks Online.

 

In case you'd encounter any errors while reconciling your accounts, the following article will guide you in fixing them: Fix issues at the end of a reconciliation in QuickBooks Online. 

 

I'm always here if you need more help in reconciling your transactions in QBO. Just let me know by leaving a reply below. Take care and have a wonderful day!

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debbie44Author
July 29, 2021

MaryJoyD,

 

I guess I am just not understanding, I get the journal entry part, but I want to know what I put the checkmark next to when I am reconciling my bank statement.  The journal entry doesn't put it in my checking account.

 

Thanks

 

Debbie

A
AileneA
July 29, 2021

Hello, debbie44. 

 

Thank you for getting back to us. You'll need to clear the journal entry until all of the transactions and records are accounted for in checking accounts. 

 

To clear the journal entries by following the instructions below: 

  1. Go to your Chart of Accounts.
  2. Find the bank, and click View register.
  3. Locate the Journal transaction, and click the "checkmark" column until a "C" appears.
  4. Click Save. 

  

After that, reconcile your Checking account again. It helps you ensure the account in QBO matches your bank statement.  

 

Furthermore, I'd recommend visiting this resource hub: Reconcile Workflow. It contains in-depth information about starting, fixing any differences, and completing the reconciliation process. Just click the links beside QuickBooks Online.  

 

Stay in touch on how this goes by clicking the Reply button. I'm always around whenever you need help. Stay safe!

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