Payroll Gross Pay is Inaccurate

dbuch

Hello,

I have an erroneous journal entry I attempted to delete, but it still reports itself in the gross pay of my profit and loss balance sheet. I need to be able to remove it completely at the very least from being counted. I understand Wave does not allow you to delete a journal entry.

dbuch

After diving in a bit, my payroll transactions for instance show 9 transactions, but for some reason there 11 journal transactions. When I checked closer, I have 3 of the same journal transactions for one single month (2 of them dupes or copies). How do I remove them so I can have an accurate representation of my total gross pay and clean up my profit and loss ledger prior to tax prep and sharing with my business partners?

dbuch

I fixed it myself, what you can do is just change the name of the journal transaction (in this case I changed it to say something like DUPLICATE ENTRY) and zeroed out all the fields. I guess when I canceled some payrolls it still automatically created the journal transactions for them, the only way to fix it is to edit the name and zero them out.

Another issue is if you have direct deposit and your taxes are being pulled out, the "Payroll Liabilities" transaction dollar amount will not balance wave clearing account. You will need to sum it to include both the payroll wages AND taxes, as well as manually specify the tax "Withdrawal" as a "Transfer to Wave Clearing".