sarah203
Level 1
‎December 07, 2024 04:40 PM

I've run my first payroll, but the transactions in the log show I have both a liability and an expense for PAYG & Super.

I use cash accounting so I believe it should show just as a liability, until I actually pay it, and then I would make it an expense.
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IntuitAika
Intuit
Intuit
‎December 09, 2024 12:40 PM

Payroll and STP

Hi sarah203,

 

Thanks for posting in the Community!

 

Once we finalise a pay run, a payroll journal is automatically exported to QuickBooks Online. The accounts shown on the payroll journal exported are based on your payroll Chart of Accounts setup.

 

Here's how to check:

 

  1. Go to the Payroll tab and select Payroll Settings. 
  2. Select Chart of Accounts.
  3. Select Default accounts.

Payment account is usually set to Payroll Clearing. This means that when recording payroll payments, we'll be selecting Payroll Clearing account. And for superannuation payments we can allocate it to Superannuation Payable account.

 

For more detailed information, you can check this article: Matching payroll payments in QuickBooks Online. 

 

Feel free to let us know if you have any other questions and we'll be glad to help you. Have a great day! 

 

 

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