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E
edvard
September 7, 2020
Question

Inputting legacy payroll and matching corresponding transactions.

  • September 7, 2020
  • 1 reply
  • 0 views

I have recently migrated to Quickbooks, payroll features enabled, and integrated my bank feeds.

 

I am trying to reconcile my expenses. Since April, I have made 20 wages and salary expenses each month. 

 

I would like to add these transactions to Quickbooks from the 'review' feed; I would like to see this information in the payroll dashboard. Each transaction is a bank transfer to one of my company's employees.

 

I realise that I likely need to import the details of this years payroll to date; however, I cannot see anywhere where I am able to input this information. I can see only that I can create a pay run from today's date at the earliest. 

 

Please may someone advise how I may import the details of past payroll; or perhaps which account these expenses should be assigned to in my chart of accounts.

 

Thank you

1 reply

J
jamespaul
September 7, 2020

Hello, Edvard.

 

Jolly good day to you! I'll share the steps on how to enter those historical paycheques and help you match them with your bank transactions. 

 

There are two ways to enter those historical payroll data. You can either do it by importing a file from your previous program or editing the pay schedules to enter individual historical cheques. 

 

First method is to use our Data Import tool in QuickBooks Online. If you just started, you'll want to set it up by going to Employees, then selecting the Add your business info button. There's an option for you to upload and import your payroll data from other programs. 

 

 

 

If you've already started (or if you don't have a file), proceed to the next method. Edit the pay schedule to when you paid your employees this year (before migrating to QuickBooks). Here's how: 

 

  1. Click the Gear icon, then choose Account and settings. 
  2. Go to the Payroll tab.
  3. Click the Pay schedule section.
  4. Hit the Edit Schedule link.
  5. Set the start date under What is their first pay date in Quickbooks?.
  6. Click Save pay schedule. 

 

 

 

After setting up the start date, go to the Payroll menu and create a pay run (by clicking the Let's go button under Next payroll) for the historical cheques. Do this until all employees and payments are accounted for. 

 

 

 

After entering the historical payroll details, start categorising and matching those paycheques with the bank transactions. Just a quick note before proceeding, your bank might only offer you to download transactions within the last 90 days. In this case, upload those previous transactions manually using a CSV file. 

 

Also, QuickBooks automatically creates payroll expense accounts in your Chart of Accounts. It's not necessary to manually create them when you have the payroll service enabled. 

 

After taking care of your historical payroll data, start reconciling your bank. Need help doing it? Check out this guide: Reconcile an account in QuickBooks Online.

 

If you need help with other payroll tasks, click this link to go to our general payroll topics with articles. 

 

I can still offer my help if you have questions with QuickBooks Online or your payroll service. Just leave them in the reply section below and I'll be there for you. 

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