Banking
Help has come, Emma!
I can share a few ideas on how to handle your payroll bank transactions and journal entry.
In QuickBooks Online, we can match a bank transaction to multiple recorded entries. However, we're unable to do it the other way around such as in your case (two bank transactions and single journal entry).
No worries. I know some ways on how to get around this. First, you can skip the matching part. Instead, exclude those transactions and manually clear the journal entries in the register.
To exclude the transactions:
- Go to the Banking page, and then select the For review tab.
- Find the payroll bank feed transactions and check them.
- Click the Exclude button.
Here's how to clear the journal entries:
- Go to the Accounting menu, and then choose Chart of Accounts.
- Find the bank, and then click Account history.
- Locate the Journal transaction, and click the "checkmark" column until a "C" appears.
- Click Save.
Another option is to split the journal entry line into two. Then, match it with those two payments on your two payroll bank entries. For this one, I'd suggest consulting an accountant for further guidance.
After that, you can perform the usual matching process like you always do.
When you're all set, you can start reconciling your accounts. This way, you can ensure they're all accounted for correctly.
Let me know in the comment section if you need more banking tips. I'm still here ready to help you.
