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April 9, 2024
Question

When I view my P&L report for Q1 it has line items for "salaries & wage" and a separate line item for "wages" which doubles my overall payroll expense. How can I fix?

  • April 9, 2024
  • 1 reply
  • 0 views
Example:  January has Salary & Wages of $4000, taxes as $650 and another line item for wages at $4600.  The total is $9250.   The total should only be $4650.  The "wages" line should not be there.

1 reply

April 9, 2024

Hello there, pschmiesing. Let me walk you through how to fix your Profit and Loss (P&L) report. 

 

Since you've mentioned having different line items with salaries & wages, and wages, it will indeed double your overall payroll expenses. As a result, you'll need to change the placement of your transactions or accounts in the payroll settings.  

 

Here's how: 

 

Step 1: Edit the placement of your account or transactions

 

  1. Go to the Gear icon located in the upper right corner and choose Payroll Settings
  2. Scroll down and look for the Accounting section.
  3. Press the Pencil icon for you to edit.
  4. Look for the account or transactions that need to be edited and press the Pencil icon. 
  5. Once done, press the Done option. 
  6. Click Done

 

Step 2: Run a report

 

  1. Go to the Reports menu located at the left navigation panel.
  2. In the search field, enter the Profit and Loss report. 
  3. Customize what's needed to change.
  4. Once done, press Run report

 

If you want to change your payroll bank account, you can use this article as a guide: Change your payroll bank account.

 

We're still here if you need us. Just leave your concerns in the comment section, and we'll be glad to help you out. Stay safe.