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K
Keystone Planning District
October 10, 2024
Question

Journal Entry & Reports not being corrected

  • October 10, 2024
  • 1 reply
  • 0 views

Hello,

 

Situation: my company recently took over our payroll from another company. The other company was not invoicing us for the payroll expenditures for many months. This resulted in a large sum of money being owed to the company at the end of 2023 however the bill for the outstanding amounts were not provided to us until 2024. The bill transaction was entered into our system when we received it in 2024 for the 2023 payroll amounts owing. The cheque was issued in July of 2024. 

Our auditor had provided us with the adjusting journal entry to capture the expenses in the correct year. 

 

However, when running our budget vs actual report the amounts for last years salary still appear in the report after to journal entry to correct the amount. How do I correct this as it is showing our budget as being over? 

1 reply

J
JamesM4
October 10, 2024

Hi there, 

 

Glad to have you reach out to us here. It's vital you get the support you need. Rest assured, I'll be happy to steer you in the right direction so you're on the right direction with achieving your goals.

 

Based on the info you've shared, I see you benefiting more by contacting our support team outside of the Community. This ensures that your account info remains private and secure. A specialist will also be able to share your screen and help you further with this. You can reach out to our support team by dialing 1-855-253-1536. To find out more about our hours and other contact methods, please follow this link here: Contact QuickBooks Online Support. 

 

Feel free to keep me posted on how you make out. I'll be on standby.

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