Once payroll is submitted, the details of the payroll transaction can be sent to your accounting software for bookkeeping purposes.
Note: Homebase Payroll currently supports integration with QuickBooks Online software only.
Setting up accounting integration
-
- Sign in as the account owner into your Homebase account.
- Navigate to Payroll Settings.
- Scroll to the Accounting Integration section.
- Click the Connect button next to QuickBooks Online.
- Click on the Accounting setup menu item and sign in to your Intuit account.
- Once successfully signed in, your Chart of Accounts will automatically be imported.
- Select each account that you would like to map the corresponding payroll transaction category into when running payroll. Each row will create payroll journal entries in the general ledger.
- Keep the "auto-push" toggle in the on position if you would like payroll runs to automatically export into QuickBooks after payroll is submitted. You can turn this toggle off if you would like to manually export the payroll transactions into QuickBooks yourself after running payroll.
- The following payroll categories must be mapped to your company's Chart of Accounts to enable the proper flow of payroll data from Homebase to the QuickBooks Online general ledger:
|
Category |
Flow |
Description |
Sample Entries |
|
Wages and Salaries |
Expense, Debit |
All net earnings paid to employees and contractors in the pay period (also known as “Compensation”.) |
● Employee Wages & Salaries (Gross Pay excluding Reimbursements) ● Contractor Wages & Salaries (excluding Reimbursements) |
|
Expense Reimbursements |
Expense, Debit |
All reimbursements paid to employees and contractors in the pay period. |
● Employee Reimbursements ● Contractor Reimbursements |
|
Employer Taxes |
Expense, Debit |
All employer taxes for the pay period. |
● Employer Taxes |
|
Employee Benefits |
Expense, Debit |
All benefits paid by the employer and remitted by the employer for the pay period. |
● Employee Benefits |
|
Bank Account |
Liability, Credit |
The account that funds the amount that the employer is liable for over a given pay period. |
● Cash Requirement (ACH) - including any taxes and/or garnishments paid by Homebase ● Paper Checks, i.e. Check #122 - broken out individually |
|
Payroll Taxes Payable |
Liability, Credit |
All employer taxes to be paid - i.e. not remitted by Homebase. |
● Non-remittable Taxes |
|
Other Payroll Liabilities |
Liability, Credit |
All employer benefits and post-tax deductions to be paid out by the employer - i.e. not managed by Homebase. |
● Employee Benefits Liabilities ● Garnishments |
Exporting payroll runs
-
- After payroll is submitted, any prior payroll run can be exported into QuickBooks.
- Automatically: If “auto-push” is enabled, then the payroll will be automatically exported to the general ledger as a new journal entry when the payroll moves to the Processing status from the Pending status.
- Manually: Exports manually occur by opening up a payroll run from the dashboard in Payroll History and clicking the Export to QuickBooks button. The date of the last successful export will also be displayed. Any check numbers that were paid with a printed check will also be included in the export. Note: there is no limit to the number of times a payroll run can be manually exported, so make sure you don't already have a record in QuickBooks of the transaction before manually exporting.
- The Journal entry’s transaction date will be the submission (approval) deadline for payrolls. This date coincides with the date that the cash requirement is pulled from the company bank account. If a payroll doesn’t have an approval deadline, the transaction date will default to the payroll’s payday.
- Here's an example of a journal entry that you would see in your general ledger:
- After payroll is submitted, any prior payroll run can be exported into QuickBooks.
Still have questions? Feel free to reach out and we’d be glad to help!
To contact support, click here to log in or email us at payroll@joinhomebase.com
