Question
Record payment to revenue for Payroll
Hi,
I manually recorded January payroll manually using the approach in this article - https://quickbooks.intuit.com/learn-support/en-us/help-article/write-checks/manually-enter-payroll-paychecks-quickbooks-online/L8Ibk0vix_US_en_US?uid=m6ifv4qb
I now have a journal entry in quickbooks for my employees that looks like this:
| Accounts | Debits | Credits |
| Payroll Expenses - Wages | 1,000 | |
| Payroll Liabilities - PAYE | 100 | |
| Payroll Liabilities - PRSI | 100 | |
| Bank account | 800 |
This works for me I think as it records the January payroll and tracks the tax liability.
Revenue have just taken the January payroll tax and now my bank account needs to be reconciled.
How do I do this? I think I'll need to create a journal entry with a Bank account Debit column Credit column of 200 to match the uncategorised bank transaction. Is that right? But how do I remove the payroll liability now that it has been paid?
Thanks in advance,
John