Dear @mmwilkes: 

Yes, that is absolutely correct. You need to exclude the two bank feed transactions.  Then when you reconcile, select the paycheck as the total of the two transactions that posted.  

I just checked a client that I know has 2 bank accts. that he has his paycheck deposited into and it is processing his payroll the correct way so it is bank feed-matchable . However, I recommend all my clients use Full Service payroll, not enhanced. So it is possible that this is the difference.  It is also a fairly new feature of QB payroll, so maybe it hasn't been rolled out  to your version yet.

Cheers!

Lynda