Wave Payroll Clearing

PR_1PR_1 Member Posts: 1

I think I got tripped up by the new payroll accounting process. As a result, my balance sheet shows, within current assets, a negative balance in an account called "Wave Payroll Clearing." How do I clear that negative balance out?

Comments

  • KiahDKiahD Administrator Posts: 85 admin

    Hey @PR_1 !

    To clear the negative balance, all you need to do is categorise the bank imported/uploaded withdrawal transaction as a Transfer to Bank, Credit Card, or Loan > Wave Payroll Clearing. This will cancel out the balance in the Wave Payroll Clearing account!

    I also highly recommend taking a look at our updated Help Centre Article, which explains the new process in detail :smile:

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