Can I Save An Expense On Paylocity And Use It As A Template Later

Learn how to create journal entries for paychecks you create outside of QuickBooks.

If you use QuickBooks for bookkeeping and another service to run payroll, you however demand to go on track of those paychecks in QuickBooks. Nosotros call paychecks made exterior of QuickBooks with services like ADP or Paychex third-party paychecks.

Some payroll services let you import paycheck data directly into QuickBooks. If your service doesn't have this feature, nosotros'll show you how to manually track these payments as journal entries. This keeps your payroll and business relationship data all in one identify.

Important: Manually entering payroll paychecks into QuickBooks Online tracks your payment totals. Still, it doesn't create the data you'll need for your employee's W-2s. You'll demand to piece of work directly with your payroll service to get your year-end forms.

Keep in listen, periodical entries require an understanding of debits and credits. If you accept specific questions nigh your Chart of Accounts, achieve out to your accountant or find a ProAdvisor .

Step 1: Create manual tracking accounts

If you haven't already, follow the steps to create new accounts  in your Chart of Accounts to track your payroll liabilities and expenses.

Create these expense accounts. SelectExpense as the business relationship type:

• Payroll Expenses: Wages
• Payroll Expenses: Taxes

Create these liability accounts. SelectLiabilities as the business relationship type:

• Payroll Liabilities: Federal Taxes (941/944)
• Payroll Liabilities: Federal Unemployment (940)
• Payroll Liabilities: [State] SUI/ETT
• Payroll Liabilities: [Land] PIT/SDI

Note: These accounts cover most common payroll revenue enhancement situations. You may need to create additional accounts for taxes specific to your state or locality.

Footstep ii: Enter the payroll paychecks into QuickBooks Online

After y'all pay your employees outside of QuickBooks, create a journal entry.

1. Become your employees' payroll pay stubs or a payroll report from your payroll service.
2. Select + New.
3. Select Journal Entry.
4. Nether the Periodical date, enter the paycheck date.
5. If yous want to track the paycheck number, enter it in the Journal no. field.

Use the info from your payroll report to create the journal entry. If you paid multiple employees for the pay catamenia, yous tin can combine all of their paycheck totals into one journal entry. You tin can likewise create divide journal entries for each employee if you need to break out the details.

Add together gross wages

1. Select Payroll Expenses: Wagesfor the business relationship.
2. Enter the amount as a debit.

Add employer payroll taxes

1. Select Payroll Expenses: Taxes for the account.
2. Enter the amount equally a debit.
   

   Note: You can combine the post-obit taxes into 1 debit, or add together each revenue enhancement particular as separate debits: Social Security Employer, FUTA Employer, Medicare Employer, Land Chore preparation taxes and State unemployment insurance.

Add taxes paid towards 941 or 944 taxes

1. Select Payroll Liabilities: Federal Taxes (941/944) for the account.
2. Enter the amount as a credit.
   

   Notation: You tin combine the following taxes into one debit, or add each revenue enhancement detail equally split debits: Federal Income taxes, Social Security Employee, Social Security for Employer, Medicare for Employee, and Medicare for Employer

Add state unemployment insurance taxes.

1. Select the Payroll Liabilities: [Country] SUI/ETT Liability for the account.
2. Enter the amount as a credit.
   

   Notation: Yous can combine the following taxes into one debit, or add each taxation item every bit separate debits: Country Unemployment Insurance and State Employment Preparation Tax

Add state income taxes

1. Select Payroll Liabilities: [State] PIT/SDI for the account.
2. Enter the amount as a credit.
   

   Annotation: You lot can combine the post-obit taxes into one debit, or add together each tax particular as separate debits: State Personal Income Tax and State Disability Insurance.

Add federal unemployment taxes (FUTA).

1. Select Payroll Liabilities: Federal Unemployment (940) for the business relationship.
2. Enter the amount as a credit.

Add net wages

1. Select the checking account you're paying your employees from.
2. Instead of combining them, enter each individual paycheck on separate lines. Enter the amounts every bitcredits.
   

When you lot're done entering the debits and credits, select Save.

Follow an example paycheck

Here'south an example of entering third-party paychecks issued on September 1 for two employees in California.

• John received a gross paycheck of $1000.00. Their net pay is $751.34.
• Jane received a gross paycheck of $500.00. Their net pay is $401.35.

Their combined taxes and other calculations for both checks are:

• $ 93.00 For Social Security for Employer
• $ 9.00 for FUTA Employer
• $ 21.75 For Medicare Employer
• $one.fifty CA ETT
• $ 75.00 CA SUI
• $ 171.78 for Federal Income Tax
• $ 93.00 For Social Security for Employee
• $ 21.75 For Medicare Employee
• $ 45.78 State Personal Income Tax
• $15.00 State Disability Insurance

To create the journal entry, y'all would enter these combined totals as debits:

• Payroll Expenses: Wages: $1500.00
  • $ 1500.00 Gross paycheck amount
• Payroll Expenses: Taxes: $200.25
  • $ 93.00 for Social Security Employer
  • $ 9.00 for FUTA Employer
  • $ 21.75 for Medicare Employer
  • $ 1.50 CA ETT
  • $ 75.00 CA SUI

And so you would enter these combined totals every bit credits:

• Payroll Liabilities: Federal Taxes (941/944): $401.28
  • $ 171.78 for Federal Income Tax
  • $ 93.00 for Social Security for Employee
  • $ 21.75 for Medicare Employee
  • $ 93.00 for Social Security for Employer
  • $ 21.75 for Medicare Employer
• Payroll Liabilities: [Country] SUI/ETT: $76.l
  • $ 75.00 for Land Unemployment Insurance
  • $ one.l for State Employment Training Tax
• Payroll Liabilities: [State] PIT/SDI: $45.78
  • $45.78 State Personal Income Tax
  • $15.00 Land Disability Insurance
• Payroll Liabilities: Federal Unemployment (940): $9.00
  • $ 9.00 for FUTA Employer

  Then list out each net paycheck individually as credits. It's helpful to include a description and name for each bank check.

• John's net pay is $751.34.
• Jane's net pay is $401.35.

Can I Save An Expense On Paylocity And Use It As A Template Later,

Source: https://quickbooks.intuit.com/learn-support/en-us/help-article/write-checks/manually-enter-payroll-paychecks-quickbooks-online/L8Ibk0vix_US_en_US

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