Your video is very helpful. I have another issue and want to hear your opinion about it. My client uses QB payroll, so in the bank register shows two paychecks in May 2021 but there is no bank transaction from bank side. It appears the direct deposits didn't go through so they did not show up in the bank but payroll summary still show these two paychecks, how can that it?
Can you log into your bank to see if they could show up in the bank feed it didn’t bring in the transaction for some reason? If Payroll did not process, you will typically get notification.
@@lyndaartesani2653 Thank you so much for your reply Lynda. My client doesn't remember whether he received a notification. One thing is for sure, both direct deposits didn't show up at the bank on 5/29/21 or a later date. We also see his bank charged a couple returned check fees $29 in early June. To me, it proves the direct deposits failed but why did his QB book didn't reflect it and they are in the payroll report and p&L. It really bothers me because I have not seen this before? Should I issue J/E to reverse the direct deposit so I can balance the bank account?
You should see a reversing entry for the bounced payroll added in the system. It will show as a deposit. You will need to contact Intuit support to rectify this. There is a $100 fee for the bounced payroll too.
Thanks, I will try this.... my issue was opening a second account so I could have separate "operating" and "payroll" accounts to work from. We were idiots to believe that just because we changed the bank account to the new bank account that the deductions would follow "behind the scenes" type of thing. No, whatever account you have setup as payroll, keep using that same account, until you have changed that over.... or what I should have done is keep the old account as the payroll account and the new account as the operating account! That would have been smart!
I have had this happen to me, and I don't quite understand the solution... The money (and bank register line-items) show the correct payroll acount balance, but QB shows the amounts paid out of the incorrect 'operations' account. I guess I'm confused as the withdrawals exist in both the payroll account (in reality where money was withdrawn), and the operations account (where QBO said I made the mythical payments from). So it feels like if I make a transfer from the payroll acount, the payroll account would have the wrong balance as those line-items would be in there twice...? Would I delete the line-item withdrawals in the payroll account before doing the transfer to the operations account? Any would be greatly help appreciated.
The problem sometimes stems from the payroll team at Intuit not aligning the payroll bank acct properly in the Chart of Accts. If it is not connected properly, the system creates its own account. Then you have to merge the new account to the actual account. But it is super important to merge them the correct way. Rename the new account to the name of the actual account. So it keeps the correct, long-standing bank account in place and reconciled.
So where were the withdrawals from? Where did you transfer the money into payroll? The problem with Payroll is you don’t really get a chance to change any payroll transactions unless you delete them. And then you have to redo them. The transfers from operating to payroll are done by your bookkeeper for yourself. That’s not a function of payroll. Unless I’m misunderstanding your question.
Hi Lynda, So I had a scenario somewhat like this but a little different. Somehow I had Payroll create its own account in the Chart of Accounts so the payments were actually being drawn against the correct account but in QuickBooks Online, they were being tagged to a different account that was not connected to bank feeds. The way I resolved this issue was to merge the two bank accounts together (the non bank feed account merged into the actual account) and all of a sudden, all of my transactions started to match all of the actual payments that had been processed through Intuit Payroll. Oh and I have another great Payroll trick for us to share during Community Live!
Matthew, I have seen that happen too. Wouldn't you think that Intuit Payroll (after verifying the bank acct with the deposits) would verify the correct bank acct. on the Chart of Accts as part of the setup process?
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Thank you for your answer. You are the only one that I could find that answers the question with a transfer and not just a journal entry.
Your video is very helpful. I have another issue and want to hear your opinion about it. My client uses QB payroll, so in the bank register shows two paychecks in May 2021 but there is no bank transaction from bank side. It appears the direct deposits didn't go through so they did not show up in the bank but payroll summary still show these two paychecks, how can that it?
Can you log into your bank to see if they could show up in the bank feed it didn’t bring in the transaction for some reason? If Payroll did not process, you will typically get notification.
@@lyndaartesani2653 Thank you so much for your reply Lynda. My client doesn't remember whether he received a notification. One thing is for sure, both direct deposits didn't show up at the bank on 5/29/21 or a later date. We also see his bank charged a couple returned check fees $29 in early June. To me, it proves the direct deposits failed but why did his QB book didn't reflect it and they are in the payroll report and p&L. It really bothers me because I have not seen this before? Should I issue J/E to reverse the direct deposit so I can balance the bank account?
You should see a reversing entry for the bounced payroll added in the system. It will show as a deposit. You will need to contact Intuit support to rectify this. There is a $100 fee for the bounced payroll too.
@@artesani I will, Artesani, there is no reversing entry. I think I need to report to QB to find out what 's going on. Thank you.
Thanks, I will try this.... my issue was opening a second account so I could have separate "operating" and "payroll" accounts to work from. We were idiots to believe that just because we changed the bank account to the new bank account that the deductions would follow "behind the scenes" type of thing. No, whatever account you have setup as payroll, keep using that same account, until you have changed that over.... or what I should have done is keep the old account as the payroll account and the new account as the operating account! That would have been smart!
Oh my, I hope you were able to correct that issue.
Exactly the same thing happened to me.
I have had this happen to me, and I don't quite understand the solution... The money (and bank register line-items) show the correct payroll acount balance, but QB shows the amounts paid out of the incorrect 'operations' account.
I guess I'm confused as the withdrawals exist in both the payroll account (in reality where money was withdrawn), and the operations account (where QBO said I made the mythical payments from). So it feels like if I make a transfer from the payroll acount, the payroll account would have the wrong balance as those line-items would be in there twice...?
Would I delete the line-item withdrawals in the payroll account before doing the transfer to the operations account? Any would be greatly help appreciated.
The problem sometimes stems from the payroll team at Intuit not aligning the payroll bank acct properly in the Chart of Accts. If it is not connected properly, the system creates its own account. Then you have to merge the new account to the actual account. But it is super important to merge them the correct way. Rename the new account to the name of the actual account. So it keeps the correct, long-standing bank account in place and reconciled.
So where were the withdrawals from? Where did you transfer the money into payroll? The problem with Payroll is you don’t really get a chance to change any payroll transactions unless you delete them. And then you have to redo them. The transfers from operating to payroll are done by your bookkeeper for yourself. That’s not a function of payroll. Unless I’m misunderstanding your question.
Hi Lynda, So I had a scenario somewhat like this but a little different. Somehow I had Payroll create its own account in the Chart of Accounts so the payments were actually being drawn against the correct account but in QuickBooks Online, they were being tagged to a different account that was not connected to bank feeds.
The way I resolved this issue was to merge the two bank accounts together (the non bank feed account merged into the actual account) and all of a sudden, all of my transactions started to match all of the actual payments that had been processed through Intuit Payroll.
Oh and I have another great Payroll trick for us to share during Community Live!
Matthew, I have seen that happen too. Wouldn't you think that Intuit Payroll (after verifying the bank acct with the deposits) would verify the correct bank acct. on the Chart of Accts as part of the setup process?
Would you be able to fix this by making journal entries from one bank account to the other? Or is that what the transfers are doing?
Shane Walter yes that is what the transfers are doing. You can do a JE too