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C
covenant2
November 10, 2024
Question

How do I set general ledger tracking for payroll expenses?

  • November 10, 2024
  • 1 reply
  • 0 views

I need to adjust the tracking of payroll expenses to our chart of accounts.  I can't find the settings that allow me to do that.  Can anyone help?

 

1 reply

H
Heide DC
November 10, 2024

Adjusting your payroll expenses involves just a few steps, Covenant2. I'm here to ensure that everything is tracked accurately so you can focus on running your business effectively.

 

To set up general ledger tracking for payroll expenses in QuickBooks, ensure your chart of accounts features dedicated categories for wages, taxes, and benefits. Follow the steps below:

 

  1. Go to the Gear icon, then Payroll Settings.
  2. Click the Pencil icon to edit next to Accounting. 
  3. Select the Pencil icon to edit and update a specific section.
  4. Enter the name of the Bank account, or scroll down to choose which account the transactions should go to.
  5. Click Save, then Done.

 

On the other hand, if you're unsure which payroll account to use, you can consult your accountant before making any changes, as this can impact important reports like your Profit and Loss statement or Balance Sheet.

 

To learn more about this, check out the article: Change your accounting preferences in QuickBooks Online Payroll. This resource will guide you on the different types of payroll accounts you can use to track your payroll transactions.

 

If you have questions or need extra help managing your payroll settings, drop a reply below. I'm always here to assist and make your QuickBooks experience as smooth as possible.

L
lmulbrook
November 16, 2024

I entered my payroll history in to the payroll module.  But how do it then get it into the general ledger.  I have the net check and number but I can't figure out where to enter the other payroll information in the GL.  Should of the information transferred over when I entered it into the payroll module.  I have prior paychecks since July that need to be entered into the GL.

Thanks

C
CamelleT
November 16, 2024

Let's work together to ensure all payroll information is reflected in your General Ledger (GL), lmulbrook.

 

When changing the mapping of your accounts, you can update past transactions so they appear in the GL. This adjustment helps maintain consistency in your financial records and reports. Here's how:

 

  1. Go to Settings and select Payroll Settings.



  2. Scroll down to the Accounting section and click the pencil icon.



  3. Locate the Update transactions area and select the pencil icon.



  4. Add the Start and End dates of the payroll data that need to be updated and reflected in the GL to determine the exact time frame we're working with and make sure all necessary information is included.



  5. Hit Save, then Done. All accounts will be changed except those in the Bank Account section.

 

Moreover, please know there's a limit of 200 transactions per date range. Additionally, you can run a GL report to verify all the payroll details are shown in the GL. Let me share the steps below:

 

  1. Go to Reports and click General Ledger.
  2. Choose a Report period.
  3. Hit Run report.

 

Lastly, I'll share this resource to help you personalize your payroll reports: Run payroll reports.

 

We're always here to help if you need further assistance managing your payroll information in QuickBooks Online. Just get back to us in this thread by clicking the Reply button.

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