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How does payroll reconcile against my bank account?

Gusto debits your operating account for each run. The payroll report records the components, the bank transaction records the cash leaving, and reconciliation ties them together. Reconcile your operating account first, since payroll, cards, and processors all feed into it.

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Check your EIN confirmation letter (CP 575) first. If that is gone, look at a previously filed tax return, a business bank account application, or any 1099 you have issued. Your bank or your payroll provider will also have it on file.

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