Some of the greatest ways to do things in QuickBooks Desktop can be the most simple—if you know how. Here is another trick of the trade that has been around a long time without being rehashed.
Sometimes you need to post historical payroll on a pay-period basis, monthly or quarterly basis. You might need to do this if you're using Desktop Payroll, or even do-it-yourself Manual Payroll in QuickBooks. Here's an easy way.
You can always post payroll liabilities using the Adjust Payroll Liabilities window. But if you need to adjust payroll items other than those associated with liabilities, you need something different.
There is a special window that can be accessed if you simply know the trick of the trade to find it.
- Start by selecting the Help drop-down menu in QuickBooks Desktop, and then selecting About QuickBooks
- When the About QuickBooks splash is displayed, depress the CTRL ALT and Y keys (CTRL+ALT+Y) all at the same time
QuickBooks opens the Set Up YTD Payroll window (shown below).
- Click Next to begin the process of entering payroll information
QuickBooks will ask you to provide the dates when the information you enter should impact both your liability and expense accounts, as well as your bank accounts (shown below).
- Enter the appropriate Dates; click Next
QuickBooks will ask you to enter the earliest payroll date for your payroll data (shown below).
- Enter the Date for your first pay period; click Next
QuickBooks will display a summary of your employees (shown below).
- Select the first employee you wish to enter payroll information; click Enter Summary.
QuickBooks displays the YTD Adjustment window for the employee you selected.
- Enter payroll information for any date range by selecting the appropriate from and to-date to impact a simple pay period, a month, a quarter, a year-to-date period of time or an entire payroll year
- Adjust the transaction date accordingly to match the ending (to) date of the payroll information or the date you wish to impact your financials
- Enter amounts (and hours, if desired) for earnings items as well as employee and company payroll items (positive or negative amounts)
- Click the Accounts Affected button (shown below) on the YTD Adjustment window to control which accounts are impacted by the postings
- When you are satisfied with your posting, click OK to be returned to the summary (list) of your employees
- When you have completed posting adjustments for all of your employees, click Next at the bottom of the Employee Summary window to finalize your adjustments.
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