You create a fictitious bank account called “Payroll Clearing” and enter each individual paycheck in there. The answer is pretty simple once you see what it looks like in QuickBooks. So we need a way of recording each paycheck individually while still being able to show the lump sum net payroll that actually comes out of our bank account. This presents a challenge in that the paychecks do not come out of your bank account individually. In the detailed method of entering payroll into QuickBooks you are entering each individual paycheck.
#HOW TO ENTER EXPENSES IN QUICKBOOKS PRO 2014 HOW TO#
You still have to enter the gross payroll to the Payroll expense line, show the deductions into liabilities and then record the tax payment with the appropriate split between the employer’s share of the taxes and the remittance of the liabilities that were withheld from the employees paychecks.Ĭhoose a method in the video to learn how to book your payroll based on the method you prefer. Under the summary method of entering payroll into QuickBooks you are entering lump sum totals. There are 2 ways you can enter payroll into QuickBooks: The classic mistake that inexperienced bookkeepers make is that they book the net payroll as payroll expense and the taxes all go to the employer’s tax expense. There’s a reason why payroll is often outsourced, but with this course from, you will learn how to enter payroll in house.
Learn how to enter payroll in Quickbooks.
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