Update journal entries

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Peter Connor ⋅ Staff February 15, 2016

Public

Hi,
Was the manual journal entry done right? Why did you have to do a manual journal entry?
Pete

#answer-2811

swiftconsu February 15, 2016

Perhaps not! I overpaid PRSI in the first half of the year (incorrect class set). I re-did the wages/calculations for the first half of the year, so the P35 then shows the over payment, which was then refunded. The manual entry records this change
swiftconsu February 15, 2016

So, a debit to Payroll Tax Payables, and a Credit to ABnk Account
swiftconsu February 15, 2016

Bank
Peter Connor February 15, 2016

If you're not an accountant or very familiar with journal entries then I'd keep away from them. They're confusing and easy to trip up on.
I think esp if it's to do with wages and tax you're better getting an accountant to look at it.
Thanks
swiftconsu February 15, 2016

Will do
Peter Connor February 15, 2016

Sorry about that - we can't advice on tax/journal entry issues. We don't have an understanding of your business. You can invite your accountant into Bullet.
swiftconsu February 15, 2016

I'll chat with Brendan
Peter Connor February 15, 2016

You give Brendan a kissing_heart from me.
swiftconsu February 15, 2016

:-)

Hi guys. I have manual journal entries that credit the bank account. I have a credit in my bank account and am unable to reconcile these against the manual journal entries. Any ideas?