Payroll Settings in 2020.1

[Shani2]

Hi Friends

Could you please check whether these linked accounts are correct when setting up the payroll. When I check my balance sheet,other payroll liabilities are 5124. and in my P/L for other payroll expenses are 5124.This cannot happen as I have not paid any super yet. If someone could check would be great 

[Tracey_H · Accepted solution]

Hi @Shani2 

Thanks for your post.  The Payroll Liabilities section of your Balance Sheet shows the liabilities (what you owe), ie, super, taxes and deductions, that have been processed through Process Payroll. Once you pay those liabilities through the Pay Liabilities window, the Balance Sheet amounts will be reduced by the amount paid. 

The Profit and Loss report shows the business expenses. You should have a Superannuation expense account which shows the business expense for the Superannuation Guarantee for the filtered date range. This data comes from the wages processed through Process Payroll.

If you are not sure about the amounts allocated to your accounts you can use the Find Transactions window to search by the Account number. This will display all transactions allocated to that account. 

These help articles have more information you may find useful:

Linked Accounts 

Payroll categories 

Accounts reports 

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.