Skip to main content
L
LWAY
January 5, 2024
Question

Payroll paid me once as planned, but It's reporting payments 1st as wages and again as payroll exp. effectively doubling reported payroll... How do I solve?

  • January 5, 2024
  • 1 reply
  • 0 views
paid me once a month as set, but listed a Negative "Cash on Hand" acct.  Was instructed to delete that.  Didn't solve anything.  Tried deleting the Transactions and that added them to Corp. Acct. and made a mess out of the Balance Sheet.  I did change the Accounting Setting in payroll to the Corp Checking instead of "Cash on Hand" which I did not purposely set up.  Any Clue how to get Profit and loss to not count the paychecks as a double loss and get my reports working correctly?

1 reply

M
Maybelle_S
January 5, 2024

Hello there, LWAY.

 

I understand your frustration with the payroll reporting doubling the reported payroll.

 

We can review and correct the mapping in your payroll setting, including your bank account in QuickBooks Online (QBO). It allows you to ensure that the payroll transactions are accurately categorized and recorded in your accounting system. Doing so helps maintain accurate financial records, allocate payroll expenses correctly, and provide clarity in your financial reports.

 

Here's how:

 

  1. Go to the Gear icon and select Payroll settings.
  2. Click Preferences, then select Accounting Preferences.
  3. Under the Wage Expense Accounts, look for the payroll item you've created and choose the payroll expense from the drop-down list.

 

Additionally, you can check the source of the double amount.

 

For more details, check this link: Set up Payroll account preferences. 

 

Need a report to check your employee's payroll data and other information? There are a variety of reports you can run in QuickBooks. Check out this article for a guide: Run payroll reports.

 

Let me know if you need to complete other payroll tasks in QuickBooks. I'm always here to help. Take care.

L
LWAYAuthor
January 5, 2024

Hopefully I have more room to try and figure this here.  Some of your answer makes sense, but some leaves me scratching my head. But before that, can we go back a little.  It has been doing this Monthly from March till The latest in December.  All that time there has been an (Ghost) account with a negative Balence called "Cash on hand" that previos QB Online Support had me Delete though it still appears to be alive in the Balence Sheet in some form.  After Deleting it, I noticed that the Line above Wage Expense Accounts called Paycheck and Payroll tax payments was set to that same negative "Cash on Hand" basically non-existent Account.  I have so far changed it to be the Company Corporate Checking Account as that is where Payroll has been taking the Direct Deposit pay amounts and depositing them in my personal checking.  Is that right to leave that as how I have the Corporate Checking Account?  At present there is only three other options and those are Add New, Copies and Quickbooks Online with Payroll.  I know this may well have been part of the issue, but I still am not sure how it should be set up especially 9 or so payroll cycles in. 

 

Next is the setting you mentioned, The Wage Account.  It is currently set to Payroll Expenses: Wages.  It has been this way since I started On-Line at least if it didn't migrate from Descktop back in March.  There are all sorts of categories listed for this setting including Add New, Straight Payroll Expenses or the Subcategory Tax, or the selected Wages.  There are many other accounts of Expenses but not my Corporate Checking Account as yet.  Do I Add New and do that, leave as Payroll Expenses: Wages, Direct Deposit Liabilities?

 

Ive started to look at the links, but I really am not sure how to set this up so that my Reports only records what was actually done and not twice.  All these extra account names or items seem to make it all extremely confusing.

 

It's possible I may need to go back to the "Cash on Hand" though that hardly seems right especially since I was just trying to get the Direct deposit to work as it seems to have done and not record the actual paid to my personal account more than once.  First as a Payroll Expense and then as the Gross Income as Wages.

 

So far, The taxes appear to all be going to the right places and I can only hope in the right amounts though I had wanted to pay myself a bonus earlier, but did not have enough time to sort any of that out.

 

If you could direct me a little more clearly as both of the payroll items (DD Checks and Gross Wages) are listed in Wages on my reports now after I re-categorized them in order that they stay out of my corporate account from where they came when I tried to delete them.  That isn't going to help those reports make sense either.

 

Thanks for your previous reply

R
ReymondO
January 5, 2024

Good day, @LWAY. 

 

Thanks for getting back to the thread and adding details to your concern. 

 

To further help you correct your recordings inside QuickBooks and review your Payroll settings, I'd suggest contacting our Payroll Team. They have the tools that can check your account in a secure environment and fix issues with your company file. Here's how to connect with them:

 

  1. Sign in to your QuickBooks Online company.
  2. Click Help (?).
  3. Select Contact Us and choose a way to connect with us:
    • Start a chat with a support expert.
    • Get a callback from the next available expert.

 

Please let me know the result of your interaction. I want to make sure you're able to fix the issue with your file. Have a good one. 

Terms & ConditionsAccessibility statement