Matching bank transactions to existing payroll liability (2024)

Monday

Hello. I have a payroll liability that is marked as paid in my QBO. This liability was paid with two manual checks. The checks have both been cashed and are sitting in my Bank Feed. I cannot figure out how to match the transactions in the Bank Feed to the liability. I called QBO support and they were no help. I am hoping someone here might have an answer.

Thank you,

• QuickBooks Online

AbegailS_

Hi there, Darren.

I'm here to ensure you can match your bank transactions to existing payroll liabilities in QuickBooks Online (QBO). This way, you can keep your financial data accurate and payroll reports updated.

To accurately match the bank transactions to the payroll liability, you should start by recording the payment as a check in the payments section under the taxes tab. Then, you can match it to the bank transactions to successfully reconcile the payroll liability payment.

Once you have recorded the payment, you can then proceed to match the bank transactions to the recorded payment. Here's how:

1. Go to the Banking tab in QuickBooks Online.
2. Select the bank account where the checks were deposited.
3. Locate the bank transactions that correspond to the cashed checks.
4. Click on the transaction to open the details.
5. Choose the Find match button.
6. In the Match transactions window, locate the recorded payroll payment and select it.

If you want to learn more about reviewing downloaded bank transactions and putting them in the correct accounts, you can refer to this article for detailed steps:Categorize online bank transactions in QuickBooks Online. It also includes details about excluding personal or duplicate transactions.

I also recommend reconciling your accounts every month to effectively monitor your income, expenses, and ensure they match with your real-life transactions. You can check out this article for the step-by-step guide:Reconcile an account in QuickBooks Online.

Let me know if you have other concerns about categorizing and matching bank transactions in QuickBooks. I'm just around to help.