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M
Monty250
October 7, 2022
Question

Matching payroll payments

  • October 7, 2022
  • 1 reply
  • 0 views

I am having a problem with my payroll entries. I run my standard payroll through quickbooks and that creates a journal entry for each of my employees each month. When the employee wages shows up in the banking transactions (the bank account is linked to quickbooks) I normally just match the transaction to the journal entry.

 

Now I cannot find a match, I have also checked the journal mapping for payroll and the fields are blank?

 

1 reply

M
Monty250Author
October 7, 2022

I've found the issue, it has used the Bank (cash in hand) not the business account!

M
Monty250Author
October 7, 2022

I can now match the wage anounts and HMRC contributions but not the Nest pension amounts?

 

R
Rea_M
October 7, 2022

Hello there, @Monty250.

 

Let's go to your Payroll Settings and update your Journal Mapping for the Nest pension so you can match your payroll payments in QuickBooks Online (QBO) accordingly.

 

There are cases where some of the transactions can’t find their match from existing records. Based on your description, I can tell that your bank account for the Nest Pension payment is not the same as the one where the match is located. That's why you'll have to correct your journal mapping. To do this, here's how:

 

  1. Go to the Payroll menu and select the Overview tab.
  2. Select Settings in the Shortcuts section.
  3. Go to the Journal Mapping section and Edit.
  4. Make sure to select the appropriate account for your Nest Pension.
  5. Click Save.

 

Once you're done, go back to the Banking menu, review your downloaded Nest Pension transaction, and put it in the correct account. Then, you can go ahead and match it to your existing payroll entry. You can refer to this article's Review and categorise downloaded transactions section for the complete guide: Categorise and match online bank transactions in QuickBooks Online.

 

Moreover, I encourage you to reconcile your accounts in QBO regularly (every month). This helps monitor your income and expense transactions and detect any possible errors accordingly. You can refer to this article to guide you in doing and fixing reconciliation in QBO: Learn the reconcile workflow in QuickBooks.

 

Also, you may want to check out this article as your reference to guide you in completing your payroll tasks using Standard Payroll in QBO: Standard Payroll hub.

 

Let me know if you have other banking concerns or questions about managing payroll payments in QBO. I'll gladly help. Take care, and have a great day, @Monty250.

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