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Proflutzy
May 20, 2024
Question

Change date on Gusto contractor JEs

  • May 20, 2024
  • 1 reply
  • 0 views

Hi All

 

I run contractor payroll on the same timeline as employee payroll. We pay twice per month (for the periods 1st through 14th and 15th through end of the month). I have employee payroll set up so when I sync to QBO the JEs are created on the last day of each period (ie the 14th and the last day of the month). However, for contractors I don’t have this option and instead the JEs are created on the check date. This means the second contractor payroll isn’t recognized until the following month (eg the 15th through the end of the month is paid on the ~7th of the following month. 

My question is - can I simple change the JE dates to correspond to the end of each pay period manually after they have posted across from Gusto? Does this impact anything else like my bank reconciliation? The JE would be on (for example) May 31st, but the bank transaction not until ~June 7th. 

Before I go back and fix my historical JEs and make this part of my process going forward I wanted to get some feedback 

 

Thanks!

 

Jon

1 reply

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Anonymous
May 20, 2024

Let me share some information about changing Journal Entry (JE) dates in QuickBooks Online, @Proflutzy.

 

Yes, you are correct that you can edit the date in your JE after it has been synced to Gusto. In your case, it's possible that it will affect you since any JE that affects the bank account will appear on your reports.

 

However, it will not affect you if it's not included in the bank statement that you reconciled. Please note that the reports will show based on the date that you enter.

 

You can use this guide for more details about reconciling: Reconcile an account in QuickBooks Online.

 

Furthermore, QuickBooks generates a reconciliation report for each session. You can view, print, or export the report by following the instructions in this article: How do I view, print, or export a reconciliation report?

 

I'm all ears if you need further assistance with managing your QuickBooks account. Don't hesitate to reach out. Stay safe always!

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ProflutzyAuthor
May 20, 2024

In my example, the bank entry would still be on June 7th (when the money is actually taken from the bank). The JE date corresponding to this was May 31st though. So I guess I would just redo the May bank reconciliation and exclude the May 31st JE from the recon? It doesn’t matter does it that a JE date is different to the bank transaction date?

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DebSheenD
May 20, 2024

Allow me to step in and share additional information about changing dates in JE in QuickBooks, @Proflutzy.

 

Once you record transactions in QuickBooks, you'll need to match it with your bank statement since that will serve as your basis in reconciliation.

 

Since the journal entry is dated May 31st but the bank transaction is on June 7th, reconcile the bank statement for June. Include all transactions up to the end of May and any in June. If you need to exclude the May 31st JE, adjust the reconciliation, possibly redoing the May reconciliation. Ensure accuracy in accounting records despite date differences.

 

You'll want to review these articles for more tips and information about undoing reconciliation in your QuickBooks Online account.

 

You can post anytime if you have more changing dates in JE or QBO-related concerns. Please know the Community has your back.

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