How to offset a direct deposit payable that has already been paid, I have a negative balance in direct deposit payable and it is the net amount paid for wages

How to offset a direct deposit payable that has already been paid, I have a negative balance in direct deposit payable and it is the net amount paid for wages

You have the option to create a journal entry to offset the negative balance of your Direct Deposit Payable account. Let me show you the steps.

But before we proceed, I'd also recommend contacting your accountant for guidance in choosing the posting account of your journal entry. If you haven't yet, you can find any account near you through this link: Find an accountant or bookkeeper.

Nevertheless, here's how you can create a journal entry:

1. Go to Accounting .
2. Find your Direct Deposit Liability account.
3. Under ACTION column, select View Register .
4. On the DATE column, select Add a journal entry .
5. Select your payroll bank account in the Account field.
6. Enter the offsetting amount under the DECREASE column.
7. Click Save ,

Lastly, I've got you this helpful article in case you need to review a transaction in your account's register and how to use it: Find, review, and edit transactions in account registers.

If there's anything else that I can help you with, please let me know in the comments. I'll be here to lend a helping hand.