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mkhalilpour
May 31, 2022
Solved

Total wages doubled in Profit and Loss report

  • May 31, 2022
  • 3 replies
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Hi There

 

I have run our payroll by QB Advanced Payroll and then paid the wages to my employees by BACS. After that, in QB Transactions, I categorised the wages expenses as Wages and Salaries. However, in Profit and Loss report, the wages expenses are duplicated. One expense is from my bank statement (QB Transactions) and a duplicate one that is created automatically by QA Advanced Payroll.

 

I wonder if someone can help me to fix the above problem?

    Best answer by Ashleigh1

    Hello Mo, So what you would have to do in order to be able to match the payroll expense up in the bank transactions is you would have to set the employees up as sub locations of the primary location>allocate those sub locations within each employee> go the payroll chart of accounts/default accounts and split the payment account, which you would have to have as your bank account, and that would separate the employees amounts  of pay in the journal and you'll be able to match them in the banking. If you have already ran the payroll, you would have to delete it and re-run it so the journals split.

    3 replies

    G
    GlinetteC
    May 31, 2022

    I can help you fix the duplicate wages showing on the Profit and Loss in QuickBooks, mkhalilpour.

     

    Duplicate entries may be caused by these possible reasons:

     

    • Payroll transactions from the banking page are added instead of matching them. 
    • An Expense transaction was created.

     

    You can exclude the duplicate from the Banking page. Let me guide you on how:

     

    1. Go to the Banking menu, then select Banking.
    2. Go to the For Review tab.
    3. Mark the duplicate.
    4. Select the Batch action drop-down menu, and then click Exclude selected.
    5. The transaction moves to the Excluded tab.

     

    Also, I added this article if you need help with reconciliation: Reconcile an account in QuickBooks Online.

     

    You can always get back to the Community if you need help again in the future.

      M
      mkhalilpourAuthor
      June 1, 2022

      Hi GlinetteC

       

      Thank you for the guidance. I know that the bank transactions can be excluded, but is there any way to match the payroll expenses with bank transactions? I tried to match the bank transactions, but the payroll expenses did not appear in the Match Transactions menu.

       

      Thanks

      Mo

      A
      Ashleigh1Answer
      June 1, 2022

      Hello Mo, So what you would have to do in order to be able to match the payroll expense up in the bank transactions is you would have to set the employees up as sub locations of the primary location>allocate those sub locations within each employee> go the payroll chart of accounts/default accounts and split the payment account, which you would have to have as your bank account, and that would separate the employees amounts  of pay in the journal and you'll be able to match them in the banking. If you have already ran the payroll, you would have to delete it and re-run it so the journals split.

      M
      mlamb3
      August 16, 2023

      I have this exact same problem.  I see you were offered a couple of pieces of advise.  Did either of them work? 

      JaeAnnC
      JaeAnnC
      August 16, 2023

      Thanks for joining in on this conversation, @mlamb3. I'll be glad to guide you in removing the duplicate wages shown in your Profit and Loss report.

       

      Since the duplicate comes from the bank feeds, we'll have to match it to the payroll expense to link them together. However, we're unable to do that directly. We'll need to set the employees as sub-locations first and split the costs. Here's how: 

       

      1. Go to the Gear icon and select Chart of Accounts.
      2. Locate the account for the transaction and click Account History under the Action column.
      3. Select the transaction and click Edit. 
      4. Enter the other accounts to add. Make sure that they add up to the total amount of the transaction.
      5. Click Save. The transaction now appears Split in the account column.

      Once done, match the payroll expense to the bank transaction. You may also refer to the instructions stated above by my colleague, Ashleigh1.


       

      Moreover, each time you pay your employees, you'll need to submit an FPS to HMRC detailing all payments and deductions made to employees.

       

      Feel free to reach out back to us whenever you have further questions about wages showing as duplicates in your Profit and Loss report. The Community is here to help anytime.

      G
      GT313
      January 12, 2024

      Hello,

       

      I finally figured this out today and I just wanted to share.

      You go to the gear icon then payroll settings

      click on the pencil by accounting at the very bottom

      then go to update transactions. 

      I just updated all my transactions for the year and some how that fixed it. It almost seemed to easy to be true. I hope it works for yours, as well. 

       

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