Please could somebody tell me how I enter a monthly payroll journal into quickbooks. I have been given an excel spreadsheet with all the details from their payroll department. Their employees get paid from the business bank account on a weekly basis.
QuickBooks doesn't have control accounts set up as standard in the same way Sage does. You can do "Write Cheque" for the net wages amount (account could be called payroll expenses) from the business bank account on the day they are paid (or enter a bill on the official pay date and then pay it when they are paid). I then set up a bill from HMRC using an account called PAYE/NI for all of the tax and National insurance. Then pay it on the day you pay HMRC.
Hi
You can create the liability codes by going through the chart of accounts, then complete the journals as Michelle suggests. If you process it this way then the books will show the correct o/s amounts rather than just showing amounts as they are paid. When you do make payments to staff clear down through the net wages nominal via your 'write cheques' method.
HTH
__________________
Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
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