How to Reconcile your QuickBooks Online Payroll

[@sandrahabiger8244]

What is your recommendation on reconciling PR tax that has been paid manually and the amounts don't match the QBO PR Tax calculations?

[@ClaudiaXperts]

You will need to get the right reports and ask the client how they paid for the payroll. If they never withdrew the money they add as owner’s investment. But do tell the business owner in the future they need to match.

[@Anna_ph476]

Hello Miss Claudia. I am payroll analyst in the corporate business. The company where i worked has there own payroll system. I am very interest to know more about QBO payroll.

[@ClaudiaXperts]

You may sign up through QuickBooks by clicking on the top right hand side gear icon, then select bills and subscriptions, then add payroll.

[@alyxalyx97]

Thank you Claudia.

[@ClaudiaXperts]

@@alyxalyx97 You are welcome!

[@jorgefraga5045]

I found this video,Do you know or do you have any video on ADP Payroll, how to post all the entries in quickbooks

[@ClaudiaXperts]

Hi Jorge, I don’t have a video on that but ADP we categorize everything in the Profit and Loss. So payroll expense as parent account, wages, employer taxes, and employee withholding taxes categorize as wages. You will need the monthly payroll summary report as well as tax liability report. If there is child support payment or 401k you will need to add to a liability account and clear the liability when is paid.

[@jorgefraga5045]

@@ClaudiaXperts Yes thank you , because right now I have the liabilities there, in the balance sheet but technically those are not owed by my client, so i need to move those out of the liability accounts and I was thinking of making a journal entry to debit the liabilities a credit the gross wages or payroll expenses to zero those liabilities......What do you think ?

[@ClaudiaXperts]

@@jorgefraga5045 The ideal is to find the transaction in banking and categorize them as an expense. You may also convert the liability account to expense account. Make sure it does not have prior year transactions. Some liability accounts do need to remain as a liability such as child support payments, and other benefit accounts that is payable.

[@jorgefraga5045]

@@ClaudiaXperts Thank you so much!. I talked to another accountant friend of mine and he said the same thing like you did. Thank you so much for your help. Do you do by any chance any training for the Advanced qbo certification ?.

[@ClaudiaXperts]

@@jorgefraga5045 I don’t, sorry.

[@marisoltoring8568]

Currently a back office expert in QBO Live Bookkeeping here in Philippines. I wanna learn more knowledge on payroll reconciliation. Found your video, love it. Keep it up!

[@ClaudiaXperts]

Glad you liked it Marisol!