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December 17, 2021
Question

We pay salaries via etransfer from our connected account. I was paid too much by accident and returned the extra amount. Now both transactions show up. How do I record?

  • December 17, 2021
  • 1 reply
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We record our salaries (paid biweekly) as a "Payroll Expense". I now have the initial incorrect amount under "SPENT" and the returned amount under "RECEIVED" in our Banking transactions.

1 reply

December 17, 2021

Hi there asvsales,

 

It's vital that all your transactions be entered correctly so that your books can be well balanced. QuickBooks Online is a great tool able to help you keep track of your expenses so you can see the profit of your company. I can point you in the right direction for assistance in entering this transaction.

 

In order to know how you should be entering this payroll return to your company, I recommend speaking to your accountant. They'll be able to guide you in which transaction type should be used as well as which accounts should be affected. If you'd like to add your accountant to your account so they can see your books, you can go to the My accountant tab. You can also find an accountant near you by clicking on the Find a pro to help button.

 

If you have any other questions, feel free to reach out here.