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PalmParrot
January 31, 2023
Question

Payroll Transactions in Cash Account

  • January 31, 2023
  • 1 reply
  • 0 views

My first two payrolls automagically put transactions in an account called Cash. I see now that I should have selected my checking account and set it as my default in Payroll settings. I can do that moving forward but how do I undo those entries. Is there a way to just move them?

1 reply

G
GlinetteC
February 1, 2023

Good to see you here, PalmParrot. I'm here to help you how to move transactions from one account to the correct account.

 

You're in the right direction when setting your checking account as default for your payroll. This way, your entries will post to the appropriate account moving forward.

 

As for the transactions in your Cash account, you'll want to create a journal entry to transfer them to your Checking account. Let me show you how.

 

Before doing so, I recommend consulting your accountant for additional guidance in recording this. This way, we'll ensure the accuracy of your accounts after making these changes. 

 

  1. Go to the + New button.
  2. Select Journal entry.
  3. Fill in the needed details to create your journal entry.
  4. Click Save and close when done.

 

For more details about changing bank account, check out this article: Change your payroll bank account.

 

 I'm also adding an article you can check if you need to run payroll-related reports: Run payroll reports.

 

It's always my pleasure to help if you have additional payroll concerns or other questions.

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