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Lex2021
November 9, 2021
Question

Categorizing Employee Wages

  • November 9, 2021
  • 1 reply
  • 0 views

Hi All,

 

I have been using QB Online advanced payroll now for around a two months, I noticed the other day in my dashboard that I had two lots of PAYE payments showing as expenses. On investigation a journal entry has been being created each time I run payroll, I had also created an account called "Wages Expenses" and had been logging the payments coming out of the bank account under this category. I can tell this is wrong as it was doubling my wage expenses.

Is there a way to match the bank transaction to the journal entry to balance the account?

 

Hope this makes sense, I am relatively new to bookkeeping/payroll so any help would be really appreciated.

 

Thanks in advance!

1 reply

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EmmaM
November 9, 2021

Hello Lex2021, Can you go to banking transactions and then on the line of the expense click the mouse and go to find a match. If the expenses are per employee what you may need to do is edit the journal to show the amount for the wage expense(net wages) in separate lines for each employee and then it will find a match. The alternative would be to exclude the transaction in the banking. There is a way to set up set each employee up as a sub-location of the primary location, and then change the primary location within the employee to the sub-location, in the default chart of accounts within the payroll settings and split by location the payment account, if you have this as your bank account then the payroll journal will show as individual amounts so then in future it will match the bank however that will not go back historically and do that so in those cases it would be editing the journal to individual lines or excluding in banking. We appreciate this is a lot, we can go into more detail on any of this if you would like.

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Lex2021Author
November 9, 2021

Hi Emma,

 

Thanks for your reply,

Tried to find a match per transaction line but it wasn't able to match to the journal.
I think the easiest thing for me to do would be to exclude from the banking, am I right in thinking as long as the journal entries are correct our records will be also if I am excluding the transactions?

There are only three of us on payroll currently so fairly easy to keep track of.

 

Thanks again,

Lex

 

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RoseJillB
November 9, 2021

Thank you for your prompt reply, @Lex2021. Let me address your concern about excluding your bank transactions.

 

Yes, but make sure that your journal entry is correct to avoid having any challenges with your records.

 

I included these article to help you on how to:

 

 

I’m happy to answer your concern about removing your bank transactions to fix your records. If you need further assistance, just hit the "Reply" button. Have a great day!

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