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February 13, 2022
Question

Record PAYE

  • February 13, 2022
  • 1 reply
  • 0 views

Hi, I have 3 cash withdrawal transactions, £500, £500 & £140 and they have to be divided into 3 payroll payments, £520, £520 & £100. We do not use the Quickbooks payroll system. How can I divide these transactions correctly and how do I record PAYE?

1 reply

February 13, 2022

I'm here to help you record your transactions, @MandM11.

 

Recording payroll transactions manually in QuickBooks can be done by entering journal entry. Let me show you how:

  1. Select + New.
  2. Choose Journal entry.
  3. On the first line, select an account from the Account field. Depending on if you need to debit or credit the account, enter the amount in the correct column.
  4. On the next line, select the other account you're moving money to or from. Depending on if you entered a debit or credit on the first line, enter the same amount in the opposite column.
  5. Check the amounts - you should have the same amount in the Credit column on one line and the Debit column on the other. This means the accounts are in balance.
  6. Enter information in the memo section so you know why you made the journal entry.
  7. Select Save and new or Save and close.

For more information, you can check out this article: Create a journal entry in QuickBooks Online

 

Also, I’d recommend reaching out to an accountant to help you with recording. They have the knowledge and expertise to know what could be the specific detail for those specific transactions.

 

I'm always here if you need further help in recording your transactions and or anything else. I'm always glad to help in any way I can. Have a great rest of the day!