Hi Glenn,
My fiscal year ends 30-April.
The final month’s director wages are paid out at the end of each month.
However, April’s wages didn’t get paid out of the bank current account until early 01-May-2015.
When I imported the bank transactions into QF and tagged the 01-May-2015 as Director’s salary, the transaction takes on the date that it left the bank account and consequently falls into the wrong fiscal year (i.e. the final month’s wages do not show up in the Chart of Accounts and Profit/Loss Report, as of 30-Apr-2015).
I thought I could easily modify the 01-May-15 wages journal entry to read 30-Apr-2015, but it appears I cannot do this?
Am I mistaken, or is there a workaround?
What payroll software are you using with QuickFile?
When the wages are tagged from the bank, this is only half the equation. When you run your Payroll it will create all the required journals as per the payroll date (30th April), this creates a liability that is then balanced when the staff wages are remitted.
There’s a more detailed explanation on Payroll journals here.
If you’re not currently using any Payroll software we do have a full integration with The Payroll Site. This will allow you to import all your payroll journals.