Sample of Quickbooks General Journal Entries

[SSNet]

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,

[Paul Mayer]

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.

[dmoney]

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.

[Paul Mayer]

We don't have that problem here, they are generally cashed the same day they are paid.