In my Chart of Accounts, I have an Account Name of "shareholder >2% salary" (Payroll Wage Expenses) for my >2% Shareholders. This makes it easier to gather the data needed for TurboTax which uses this same category.
However, in the Payroll Settings|Accounting Preferences section: QBO changes this
from "shareholder >2% salary"
to "shareholder )2% salary"
so that I'm left with a second listing in my Chart of Accounts, one with a ">" sign, the other with a ")" symbol. I then have both items listed in my 'Profit & Loss' statement.
I can 'fix' this by merging the two names in my Chart of Accounts, but I have to do this after every payroll to have the line item listed correctly in my P&L statement. First world problems, but it is annoying that the programming/coding is not consistent.
cheers!
