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McWilliams & Associates, Inc. – For the Love of Business Newsletter Issue 4.16: April 26, 2005

Question – I am using QuickBooks® Online for my bookkeeping and PayCycle for my payroll as recommended by Intuit.  PayCycle keeps track of all the payroll taxes I pay.  My questions are:

  1. Do I need to double book the payroll expenses for every paycheck in QuickBooks® Online (QBOL), when they are already in PayCycle?
  2. Is there a way to have PayCycle automatically enter the amounts in QuickBooks® Online (QBOL) (this may be a questions for PayCycle).

THANKS!!!!!!

Submitted by Todd.

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Answer:

In answer to the first question:  No you do not need to “double book the payroll” when using PayCycle.  There is an easy way to integrate the information you already have in PayCycle to your QuickBooks® Online file.  The first step is to establish the connection of your PayCycle account to your QuickBooks® Online file; this is accomplished by choosing ‘Online Edition’ as your general ledger accounts.  This set-up can be found under Account -> Preferences in Paycycle.  If you have not already set up payroll accounts in your Online Edition, PayCycle will set them up for you the first time you export your data; it’s that easy!

For the second part, you can contact PayCycle if you want, but, when you export your data, with just one click in PayCycle, all the amounts and details will be sent and posted into your Online account.  For instructions, PayCycle has provided a .pdf complete with screen shots of the process.