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Adam2484
September 4, 2022
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Advanced Payroll not matching transactions in banking

  • September 4, 2022
  • 1 reply
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Recently forced to upgrade from standard payroll to advanced. (Employees with court orders) I'm no way an expert with QBO but ive been managing. Standard payroll was nice and simple, ran the payroll, paid my lads and banking matched the transactions to payroll. So assume standard created a journal of some kind from what I have read...

 

Advanced payroll doesn't seem to work this way. completed the pay run fine, paid the lads and the transaction's are unknowns in the banking section and there is a massive discrepancy between the bank balance in QBO (higher) and the actual bank account now (lower)

 

Have a missed a step...

Best answer by Archie_B

Thank you for reaching the Community, Adam2484.

 

I'm here to share some tips on how to manage those payroll transactions so you can easily match them in QuickBooks Online.

 

You'll need to set up your chart of accounts to make sure payroll expenses and liabilities are organized properly. I recommend checking this link for the complete set up guide for QuickBooks Online Advanced Payroll.

 

Once you've set up your chart of accounts, you can map the accounts to different payroll transaction types. You can use this article as your reference: Mapping General Ledger Accounts in QuickBooks Advanced Payroll. It contains all of the information about the various account types and categories to help you match payroll transactions from your banking page easily.

 

Keep posting in thread if you still need further assistance. I'm always here to help. Have a great day!

1 reply

A
Archie_BAnswer
September 4, 2022

Thank you for reaching the Community, Adam2484.

 

I'm here to share some tips on how to manage those payroll transactions so you can easily match them in QuickBooks Online.

 

You'll need to set up your chart of accounts to make sure payroll expenses and liabilities are organized properly. I recommend checking this link for the complete set up guide for QuickBooks Online Advanced Payroll.

 

Once you've set up your chart of accounts, you can map the accounts to different payroll transaction types. You can use this article as your reference: Mapping General Ledger Accounts in QuickBooks Advanced Payroll. It contains all of the information about the various account types and categories to help you match payroll transactions from your banking page easily.

 

Keep posting in thread if you still need further assistance. I'm always here to help. Have a great day!

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