Wages and equity
A pay run has been created for the business owner at the end of the quarter and 'paid' from the bank account. However, the 'wage' hasn't actually been paid from the bank account and isn't intended to...
Forum Discussion
Hi kwacka75
Thanks for your post. You can record a general journal debiting the bank account and crediting the equity account for the net wage amount. In Banking>>Reconcile accounts tick both the pay transaction and the general journal to manually reconcile those transactions.
Please let me know if you need further help.
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.
