HOME / COMMUNITY Switch to knowledge base

Salaries are showing incorrectly

Hi

I have had some ongoing problems with adding salaries. I have checked though my records and ensured that all the salaries/wages are tagged as you cannot add directly.

I have recorded every figure I have tagged in QuickFile and when I compare with the figures showing on the P+L report there is over £12,000 difference, why is this please?

I also notice that on nominal code 7001, there are discrepancies again.

Please help!

Many thanks

Hi @KevinWright

What are you comparing to for the £12,000 difference to appear?

When looking on your P&L report, are the date ranges correct?

Hello

I have seen some of the problems are caused as the bank was not reconciling correctly

When I have uploaded some of the missing bank statements it is adding masses of duplicates so do not want to do any more as this is going to take me days to remove now.

How can I add employee costs to quick file, mark them as paid and so they appear in the correct periods so they show up in the correct date range when running reports?

Hi Kevin,

When you upload a bank statement, it should check for duplicates (please see this topic for more info and examples) - was this not the case?

You would need to input the bank transaction on your bank screen for the payment, and tag them to ‘Salaries’. You would also need to complete the full payroll journal (to take PAYE into account etc. - see this post for info). As long as the bank transaction and the journals are entered for the correct dates, they would appear under the correct period on reports.

Tagging the transaction would count it to the relevant nominal, and the journal will deal with the payroll figures. However, if you need help with this part, I would suggest speaking to your accountant, as I’m not one!

Hope that helps!

Hello

No, it showed some duplicate requests but missed loads! Not good at all to be hones and I dare not upload anymore statements due to this massive task now it has caused.

Your reply is of no help. I dare not upload statements any more and I have bank payments missing for a few weeks worth of net wages paid. I do not have your PAYE option and unsure how to safely enter these critical figures.

Can you please come back to me urgently as this has held me up for near on 2 weeks now?

I see a few duplicates because the descriptions are different. QuickFile will only flag as a duplicate if the bank entry date, reference and amounts match.

You are manually marking invoices as paid (thus creating an entry on the bank), then uploading a statement containing items that are already included on the bank statement. This is fine but you will need to manually delete the untagged entries, this is part of the bank reconciliation process, same as any other accounting software.

The system will not assume an item with the same date and amount is a duplicate. Imagine a company that sell a single product for a fixed price every uploaded bank entry would flag as a duplicate.

Understood, but can I add a bank payment into the bank without uploading a statement?

When I run a P&L report from 1 Jan 2015 to the 16 Dec 2015 it shows in nominal code 7003 a total of £29,219.48.

I have manually been through all payments in quick file through the bank and the actual figure allocated to wages is near to £65,000

This is what is causing major problems and if I am not careful the accountant will not accept any figures on this software as they know exactly what has been paid in wages and have flagged this up.

I need this resolving today or could end up costing me a massive amount in accountants fees and I have 2 QuickFile accounts not one, so this is very serious for me.

Could you please help to resolve this today, you may log in and look at the accounts to see what is wrong, but I cannot see any reason for it at all.

Yes, that’s what happens when you go to an invoice and mark it as paid, it will create an entry on the bank that you select.

If you then grab your bank statement and upload this, it will enter the same amount again.

The way to solve this is either not to mark invoices paid manually, just upload your statement and link the untagged entries to the open invoices. Or upload and then go delete the untagged duplicates, which is what you’d need to do in this case.

I understand this bit now, but please can you respond to the message above this reply?

I do remember looking at this before, there weren’t any wages entries on the bank pre-october from what I recall? Whatever QF is reporting is exactly what is on the bank and tagged to that nominal code.

Do you have an example of an entry on the bank, that is not showing on your NET wages total?

I have checked all of the wage entries on quick file banking and they are all tagged as well!?

I am just manually entering the few that was not reconciled now

On the chart of accounts, if I switch to show all time records:

You can drill down on this to see all entries tagged to this code. I see the earliest is Jan 2015.

Incidentally you also have ~£2000 tagged to “Directors’ Salaries”, but you’re still way short of £65k.

Still looking…

Also there’s £11,698 on the balance sheet for NET wages, you can journal that to 7003. That will get you a bit closer!

I know I can drill down, I am just adding some manual entires in the bank now starting in Jan, so thats what you can see…

How do I journal across Glenn, sorry. Why would that sit on the balance sheet and not on the P&L though? I had tagged to salaries etc?

Im still quite a way short for some reason though.

QF has two modes for posting salaries, one method it posts to the BS code (2220), this is for when you’re importing your own payroll journals, as it’s those journals that move the balance to the P&L.

The other method for non-payroll users it will post to the BS code (2220) but then auto-journal to the P&L (7003). I believe you had it configured to post to the BS only (Account Settings >> Advanced Features).

In Reports >> Journals. You would create a new journal and move the balance like this:

OK, I will try that.

I am also posting bank transactions in the banking section “input new transaction” and then searching for this new entry and tagging as a Salary, is this ok?

Have you found the remainder of the £65k?

That’s fine, as long as the entries you’re creating match your actual bank statement.

I’m just going by what is on the Chart of Accounts, the £29,567.80 and the £11,698.50 were the only significant amounts I found related to wages. Without knowing your accounts I wouldn’t know where the other balances are posted to?

You’d need to first get the bank statement in QF matching your actual paper statement, then look through the wages entries on the bank, click the green tagged button to see where they have been posted to. If you have an accountant I am sure they would be able to assist you here.

This topic was automatically closed after 7 days. New replies are no longer allowed.