Learn how to add, delete, or edit import payroll transactions into QuickBooks. Here, we discuss both edition QuickBooks Desktop and QuickBooks Online.
How to Add Payroll Transactions in Quickbooks Desktop
If you use the QuickBooks Desktop edition, then you need to track all paychecks to add the payroll transactions. Some payroll services let you add payroll transactions directly in QuickBooks but some not. To add the payroll transactions in QuickBooks Desktop manually, you have to perform the below steps:
1. Step One:
The initial step is to create the manual tracking accounts in the chart of accounts to navigate the payroll liabilities and expenses.
- You can create or choose the expense as the account type.
- Payroll Expenses include Wages and Taxes
- To create the liability account, choose the liability as to the account type
- Create these liability accounts. Select Liabilities as of the account type
2. Step Two:
Once you are done with the above step, enter the transactions and paycheck into the QuickBooks
- Once you pay for your all employees then enter all payroll transactions
- Hit the select + New button simultaneously
- Then, you have to select the employees’ payroll stubs or payroll report from the payroll services
The user has to utilize the information from the payroll transaction report. In any case, if you paid multiple employees for a specific pay period, you can add all transactions of their paycheck totals into just one journal entry. Users also have a choice to create separate entries for each employee if they want to break out the details.
For further processing, go with the below steps:
- Add gross wages and then choose the Payroll Expenses
- Now, you need to enter the amount/payroll transactions
- The next thing you have to do to add the employer payroll taxes
- Then choose the payroll expenses
- Now, enter the amount/payroll transaction
- Perform on-screen guidelines until the program is not finished
- Hit the Save & Close button.
- Instead of combining all, users have the choice to enter individual payroll transactions on separate lines.
How to Add Payroll Transactions in Quickbooks Online
QuickBooks online version inbuilt features make everything easier to track all business accountancy functions. As a workaround, a record of payroll transactions is a good way to view the information for your payroll but sometimes users are required to add more payroll transactions.
To do this, perform the below-mentioned guidelines
- The initial step is to click on the Select + New button simultaneously
- Choose the Payroll Transaction that you want to add
- Under the Date section, you have to enter all required details for journal entry
- Then, go to the Debit and credit accounts
- Under expenses, the user has the choice to track the employer contribution
- Hit the next click on the “Make Recurring” option to set the template
- Click on the Save button to update all new changes.
How to Edit/modify Payroll Transactions in Quickbooks Desktop
If you set up the payroll transaction incorrectly in QuickBooks and want to edit to correct all incorrect totals then the below information helps you to fix this issue.
Edit the payroll item or transaction with the following steps:
- From the top menu bar, choose the payroll item list
- Hit the next right-click on the item and then choose the Edit option
- Choose the Next twice and enter all correct tax tracking type
- Then, choose the correct item or transaction or taxes and hit the Next button
- Now you have to enter the limit type if all worker have a similar rate and limit
- If your employees don’t have default rate and limit but having the same rates and limits then you have to enter the amounts
- Hit the Finish button and you are all done with this program
1. Case One:
In any case, if your employees don’t have the same rates then enter the rates on the employee records
- Open the Employees menu and then go to the Employee center
- Hit the double-click on the “Employee’s name”
- Choose the Payroll Info tab
- To add, deduct, and other organization contribution, you have to enter the correct rate and limit
- Choose the OK button to close all programs when you completed the program
- Check and verify the Wage Base
- From the top menu bar, you have to choose the Reports menu
- Go to the “Employees and Payroll” field and then choose the “Payroll Summary Report”
- Now you have to correct the date and zoom in on the payroll transactions or item for each employee
- Check and verify the payroll transactions, amount, and wages base are correct or not
2. Case Two:
If you find anything incorrect then you have to make a payroll liability adjustment
- Go to the Employee menu and then choose the payroll taxes and liability section
- Now, you need to enter the date and effective date
- From the adjustment field, you have to choose the Employee and click on the “Employee Name” option
- Go to the Tax and liabilities to choose each of the payroll items
- You can enter a number to reduce the wage base or enter the positive number to increase the wage base
How to Edit/modify Payroll Transactions in Quickbooks Online
Learn to edit a payroll transaction that you already created. Before heading to edit, users are required to add a payment type, edit the check number or update the hours. To edit the payroll transaction n the QuickBooks online payroll full service based on where you are in the payroll process.
The user has to take these steps before adding the pay date:
- From the left menu bar, the user has to choose the Payroll menu
- Click on the Employees section
- Then, you have to choose the employee’s name and click on the list
- If this status shows that you Not processed it yet, you can easily delete and then recreate them
- Then, you have to choose the checkbox next to the pay date
- Hit the click on the Delete button
- Then a confirmation message will appear on your screen, click on the YES button
- Now, you have to go back to the employee list and then recreate them
Perform the below-mentioned steps after the pay date:
- From the left navigation, open the Payroll menu
- Choose the Employees section
- Click on the Employee name and then choose the Paycheck or payroll transaction list
- Then, you have to submit the paycheck to intuit
- Choose the bank and make all required changes
- Once it’s finished and click on the Save button to save all new changes
Once you have been submitted to intuit, you can also recreate the payroll transaction and paycheck with the following steps:
- Choose the checkbox which is just next to the pay date
- From the paycheck and payroll transaction list, you have to choose the Delete button
- Click on the Payday and then recreate the payroll transactions and paycheck that you required
Follow the steps to make new changes after the pay date
- Go to the home page and open the related activities
- Choose the view Paycheck and Payroll transactions list to check whether the issue is resolved or not.
How to Delete Payroll Transactions in QuickBooks Desktop
- From the left menu, hit the click on the Payroll tab
- Choose the Employees list
- Go to the Run payroll section then you have to choose the Paycheck or payroll transaction list what you need to delete
- The next thing you have to do change the date range if required
- Then, choose the list that you need to delete
- Hit the delete button
- Mark the checkbox to give confirm the deletion and then delete the payroll transactions or paychecks
How to Delete Payroll Transactions in Quickbooks Online
If you want to delete payroll transactions in QuickBooks online that you already created.
Perform the following the instruction step-by-step:
- From the left-side menu, open the Payroll menu
- You have to select the Employees section
- Click on the Payroll transaction list
- Mark the checkbox which is just next to employees’ payroll transactions
- Click on the Delete button
- Choose the “I understand that this action cannot be undone” checkbox
- Hit the click on the Delete Payroll transaction to finish the process
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