Raise your hand if you like making payroll entries!
I don't see very many hands going up out there...
Unless you're an accountant, you probably don't "do" journal entries. I'll go out on a limb and say there's a flavor of journal entries that even some accountants don't like - payroll journal entries.
They are a necessary evil. Necessary, since payroll is an important part of your business. Evil because they are big, deal with taxes, and easy to mess up. Good news - you don't have to do payroll journal entries.
Shut the front door....
Many firms use payroll systems like ADP and Trinet. These systems have the ability to automate payroll journal entries. Ask your payroll provider or search online to see if your payroll system has this functionality. There is some set up time to map the payroll accounts to your accounting system, but this is a small price to pay - trust me.
How is this possible? Payroll journal entries are basically the same every time. It's just the amounts that change.
Once the accounts are mapped, you can send the journal entry from the payroll system directly to your accounting system. If you set this up once, the entries are magically done for you after payroll is approved. Think about how nice it would be not to have to make payroll entries.
I recently set this up for a firm. I'm pleased with how it has transformed the process, saved time, and reduced potential entry errors. They have confidence that payroll is handled, and we are all happy to not do payroll entries anymore!
Let computers make the payroll entries while you go out and run the business.
Raise your hand if you like that!