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S
SRS61
June 13, 2024
Question

Reclassifying a journal entry

  • June 13, 2024
  • 1 reply
  • 0 views

Can anyone please advise on a journal entry to reclassify CPP (employee and Employer) deducted to taxes?  I have an employee who is CPP exempt and accidentally did not get that ticked prior to preparing payroll so I want to reclassify those deductions to taxes - is this possible?

 

Thank you.

1 reply

H
Henock K
June 14, 2024

Hi SRS61,

 

Welcome to the Community. It's important to correctly record your transactions to keep your books balanced. QuickBooks Desktop is a great program that gives you the ability to easily manage your books. I'd be glad to help. 

 

Based on what you've described, I feel you'd benefit more from contacting an accountant. They'll be able to point you in the right direction to reclassify the journal entry to keep your books up to date. If you don't have an accountant, we can help you locate a ProAdvisor in your local area.
 

Let me know if you have any questions, I'll be happy to help.

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