We’re often asked; I want to start using AccountEdge mid-year. How do I bring over my year-to-date payroll?”

Option 1: Entering a Lump Sum Check for Each Employee
One approach is to enter a large lump sum check for each employee, which would help avoid the need to input individual paychecks. However, this method would group all liabilities for a specific time period. As a result, you would also need to enter a corresponding lump-sum Pay Liabilities check.
Additionally, this method may cause complications if you plan to perform bank reconciliations monthly, as it aggregates multiple months into a single lump sum. Another consideration is if you plan to use the AccountEdge Payroll Forms Service (PFS) to transfer the data to payroll forms; this could also be problematic.

Option 2: Entering Lump Sum Checks for Each Employee per Quarter
The second option involves entering a lump-sum check for each employee quarterly. This approach allows you to use quarterly tax forms if needed, which can be beneficial for tax reporting. However, similar to the first option, this method would still create challenges if you need to reconcile month-by-month, as the records would not match individual months.

Option 3: Entering Individual Checks for Each Employee
The final option is to enter each paycheck individually. This method provides the most accuracy and ensures that all liabilities, taxes, and paychecks match up correctly with the corresponding months. It also allows for easier reconciliation and consistent tracking and reporting throughout the year.