Solved

Payroll accrual journal entry

Forum|Forum|1 year ago
January 2, 2025
2 replies
0 views

I just ran my first payroll for period ending 12-31-2024 with a check date of 1-3-25. The GL mapping is set, however no journal entry to post payroll has come through. Do I manually have to do a journal entry to accrue the expenses and liabilities in December?

QuickBooks Online

Best answer by Rainflurry

@sgray98660-gmail

Yes, you need to accrue payroll expenses manually at month-end. QB does not automatically do that.

I

IrizA

I appreciate you sharing that your payroll mapping is complete, sgray. I have some information to share.

When the pay date falls in a different month and year, the payroll is considered part of the current month, even if most of the working days occurred in the previous month. With this, you can consider recording the payroll transactions every month-end. However, please seek advice from an accountant to ensure the accuracy of your financial records.

If you want to reverse a journal entry to swap the debits and credits or delete it entirely, you can access this material: Reverse or delete a journal entry in QuickBooks Online.

Please let me know if you have additional questions about payroll accrual, sgray. I'll be here to help you further.