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Thread: Sample of Quickbooks General Journal Entries

  1. #1
    Join Date
    Oct 2017
    Posts
    13

    Default Sample of Quickbooks General Journal Entries

    Hi Paul,
    On your website you say "We simply post two general journal entries each month. One for total payroll and one for total payroll taxes" Could you provide samples of the two entries required that would cover the actual paycheck - employee paid taxes and company paid taxes? I realize accounts would probably be different for each company QB file - but samples would lead me in the proper direction.

    I could not find anything in the tutorials and the FAQ and forums search function does not work.

    Thanks,

  2. #2
    Join Date
    Aug 2002
    Posts
    2,847

    Default

    It was actually the total federal taxes paid and the total state taxes paid and then total net pay to the employees we record, three entries.
    Paul Mayer
    ZPAY Payroll Systems, Inc.

  3. #3
    Join Date
    Feb 2013
    Posts
    34

    Default

    So how do you reconcile your bank statement when the paychecks clear the bank? I have some employees that do not deposit their paycheck for several pay periods.

  4. #4
    Join Date
    Aug 2002
    Posts
    2,847

    Default

    We don't have that problem here, they are generally cashed the same day they are paid.
    Paul Mayer
    ZPAY Payroll Systems, Inc.

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