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Dawn Hazelwood
September 18, 2020
Solved

Standard payroll and matching pay to journal entries

  • September 18, 2020
  • 1 reply
  • 0 views

So After running the payroll and creating the journal entries, I am unable to match the payroll payments from the bank feed to the journal entries.  Was advised the exclude the payments from bank feed but now cannot reconcile the bank as payments are missing.  If i try add payments in bank feed, it will not find the journal entries to match against.  Suggestions please? Quickbooks online with standard payroll

Best answer by GeorgiaC

Hi Dawn, 

 

As the journal is trying to match to multiple smaller payments, if there's no automated match showing it's easier to exclude these transactions as the payments are already accounted for.

 

The 'net pay' amount line on the journal is the gross amount minus tax and other deductions - does this box match the value of all payments? These values should match exactly and in which case you can exclude and reconcile the account. 

 

Thanks

1 reply

G
GeorgiaC
September 18, 2020

Hi Dawn, 

 

Thanks for your post and welcome to the Community. 👋

 

Is the journal posting to the correct bank account on the same date as the payments, and do the total amounts of the payments match the 'Net pay' amount on the journal? 🧐

 

If the amounts match, it's fine to exclude these payments from the banking. If not, you may need to check if there were any under/overpayments. 

D
Dawn HazelwoodAuthor
September 18, 2020

The journal entries are not coming into the match option. I have checked in the settings and all journal entries are from the same bank account just unable to locate them from the banking screen. The net pay and tax would add up to the total amount of pay.

G
GeorgiaCAnswer
September 18, 2020

Hi Dawn, 

 

As the journal is trying to match to multiple smaller payments, if there's no automated match showing it's easier to exclude these transactions as the payments are already accounted for.

 

The 'net pay' amount line on the journal is the gross amount minus tax and other deductions - does this box match the value of all payments? These values should match exactly and in which case you can exclude and reconcile the account. 

 

Thanks

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