Xero Payroll - How to Reconcile a Pay Run

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Күн бұрын

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Learn how to reconcile your bank account after processing a pay run in Xero and paying your employees.
Timestamps:
00:00 Xero Payroll - How to Reconcile a Pay Run
00:28 Step 1: Post a pay run
00:47 Step 2: Check the wages payable account
02:14 Step 3: Import the bank transaction
04:20 Step 4: Find the bank transaction
04:36 Step 5: Reconcile the bank transaction
05:51 Step 6: Check the wages payable account again

Пікірлер: 22

@Lilly-vg5wy Жыл бұрын

great presentation, so helpful, very grateful

@juarez7337 4 ай бұрын

Thank you so much! Great detailed explanation!

@philipwoods5581 11 ай бұрын

Great video - answered my query perfectly - appreciated.

@TheBookkeepingChannel 11 ай бұрын

Thanks!

@alexk6745 Жыл бұрын

Thank you very much that was great. Awesome stuff

@TheBookkeepingChannel 11 ай бұрын

You're welcome!

@toniluong9311 2 жыл бұрын

Thanks for the video, can you explain what the pension posting would be? The EE and ER portions and how to reconcile the payment from the bank? I'm in the UK btw. Thanks!

@abbysav886 2 жыл бұрын

great videos. straightforward!

@TheBookkeepingChannel 2 жыл бұрын

Glad you liked it!

@drone.5k Жыл бұрын

Thanks for the vid this helped me understand where i should be putting the bank feeds for payment. I do the gst on xero but make payments through the bank manually. I was reconciling into the wrong accounts. In the bank feed theres two employees and their names individually. The payruns have both of the employees figures together. So on the bank feed it’s different.

@TheBookkeepingChannel Жыл бұрын

If you batch pay your payroll payments you should only get one consolidated transaction in your bank feed.

@41orchard 2 жыл бұрын

Thanks for video mate

@TheBookkeepingChannel 2 жыл бұрын

No problem 👍

@atruong222 2 жыл бұрын

Great video series! Can you explain the difference in the superannuation expense and liability account?

@TheBookkeepingChannel 2 жыл бұрын

Sure. When you post a pay run the total amount of super will go to the liability account on the balance sheet and will remain a liability until you pay the amount and reconcile it in your bank feed. When you post the pay run the total amount will also go to the expense account so it shows up on your P&L even if you haven't paid for it yet,

@TheBookkeepingChannel 2 жыл бұрын

@jonathonstapels7656 2 ай бұрын

Thank you for the who in generated payroll. We do trades inbound sales, wondering if you would be interested in supporting some of our clients with their bookkeeping and accounting needs?

@player1tv 10 ай бұрын

HOw do you automate the entry data. typing that out every time = boring.

@user-yy8di2dt1s Жыл бұрын

Hi Mark - I've paid my first Super batch payment to the clearing house for all 5 employees (multiple super funds) and all processed ok. To reconcile this batch payment everything I have found online is only for single super fund (i.e. create "who; superfund, what; 826, why; Q4 super payments) but not for multiple.... do I have to split this batch into the individual funds? Or should I create a clearing house contact to reconcile the entire amount to? Or is it best to filter future quarterly super payments by super fund before processing the batch? I feel there must be a simpler way to do this....

@TheBookkeepingChannel 11 ай бұрын

When you make the payment you should have the money go out of your bank account as one payment. That way you only have to reconcile one payment in your Xero bank account feed.