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ashleyapmachining
March 18, 2022
Question

Allocating EFT payroll line items to different vendors

  • March 18, 2022
  • 1 reply
  • 0 views

Using Quick-books online

My company gets payroll automatically deducted from our bank account each week. Instead of having multiple transactions, they take the whole sum out at once. I have been allocating this by doing a split transaction where i detail on each line what employee got paid what amount until its all accounted for.  for example:

- Category: Payroll expense; Description: Jane Doe ; amount $520.00

 

But on all my reports these ACH/eft charges fall under unspecified vendor because there is no one vendor I am able to allocate to. Is there actually a way I can selected multiple vendors when allocating this? Or is how i've been doing it the way it just is. 

1 reply

Tori B
Tori B
March 18, 2022

Hi there, @ashleyapmachining. T

 

Thanks for taking the time to reach out to the QuickBooks Community for support. I hope you're enjoying the day so far. 

 

At this time, expenses can only be allocated to one vendor/payee. I understand how having the option to choose more than one vendor/payee would be beneficial for you and your business, so I've gone ahead and submitted this suggestion to our Product Development Team. This way, our developers can consider this feedback for a future update. 

 

Please don't hesitate to let me know if you have any questions or concerns. I'm always around to lend a hand. Take care! 

B
Bmiller1250
December 14, 2023

I am having a similar issue.  The difference is that my Payroll EFT includes both Employee Payroll and Owner draw.  I need to be able to split the transactions so that I can account for Owner Draw amounts and Payroll amounts.  Is there a way to do this with OB Online?

R
Rea_M
December 14, 2023

Yes, there's a way to split your payroll EFT transaction in QuickBooks Online (QBO), Bmiller1250. I'll walk you through the steps below.

 

You can split your EFT between the owner draw and employee payroll, depending on whether you've documented both transactions. If you already do so, you'll want to match them to the downloaded bank data so you don't get duplicates. Here's how:

 

  1. Go to Transactions, then select Bank transactions.
  2. Choose the tile for the account you want to review.
  3. Select the For review tab.
  4. Find a downloaded EFT record.
  5. Select the downloaded record to expand the view and review the Matching records found section.
  6. Click the link next to each match to get more details. 
  7. Cose the open record and select Match.

 

If you haven't yet entered the owner draw and employee payroll in QBO, you can split your downloaded EFT to account for their amounts. Before doing so, please note that you can only select or enter one name in the Paid To field. Here's how:

 

  1. In the For Review tab, select the EFT transaction to expand the view. If the option in the Action column is Match, change the Find match to Categorize.
  2. Select Split (Accountant view) or Split transaction next to Category (Business view), which opens the Split transaction window.
  3. From Category, select the categories you want to split the transaction into.
  4. Enter an Amount for each split.
  5. Select a Vendor or Customer name for each split. Note: The fieldname may vary depending on the transaction.
  6. When you're done, select Apply and accept.

 

Additionally, we encourage you to reconcile your accounts regularly (monthly). This way, you can monitor your income and expenses accordingly. 

 

I'm all ears if you have other banking concerns or questions about managing payroll and employee transactions in QBO. You can drop a comment below, and I'll gladly help.

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