PayrollPanda integrates with online accounting software QuickBooks, it will auto-sync the payroll data into your QuickBooks account. Follow these straightforward steps to setup the integration.
1. Connect your QuickBooks account
First you have to connect your account, go to: Settings > Integrations > Connect with QuickBooks > Log In To QuickBooks > Authorize PayrollPanda
2. Set-up sync settings
Here you can choose if you want to auto-sync or manual sync the payroll data into your QuickBooks account. If it’s automatic it will be updated as soon as you process payroll, if manual you have to sync to QuickBooks once you processed the payroll under Payroll History > Sync with QuickBooks. The journal entry date will be either the payroll date or a custom calendar date.
3. Map to QuickBooks Charts of Accounts
In order to sync, you need to map the payroll data to the QuickBooks Charts of Accounts. On the left side you see each of the PayrollPanda items, while on the right side you can select each of the QuickBooks items.
3.1 Payment Recipient
Under Payment Recipient you find the accounts that track what the company owes to the employees and statutory bodies. Payment Recipient is mapped with Other current liabilities.
3.2 Payroll Items
Here we map each of the Payroll Items against the Employer Portion and the Employee Portion. The Employer Portion tracks the expenses the company incurs with the statutory bodies. The Employee Portion tracks the expenses that the company incurs with its employees.
It's mapped in QuickBooks to Expenses > Payroll expenses.
Note: All additions or deductions occurring in Payroll must be mapped as well to Expenses > Payroll expenses.
Travel/Petrol allowances > mapped in QB to expenses > Payroll expenses.
If you need any further assistance with the setup you may reach out to us via the in-app chat.
This help article was compiled for version 0.33.4 of app.payrollpanda.my
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