Adjust Payroll Liabilities in QuickBooks in Very Simple Ways | Account caresby Account Cares QuickBooks Services Provider Company
Adjust Payroll Liabilities in QuickBooks
Sometimes, QuickBooks users make certain mistakes or forget about details and end up having to adjust payroll liabilities in QuickBooks. If you also want to know how to fix the liabilities in your QB software, then keep reading this article.
Here you will learn how you can make use of a simple way to
rectify the YTD or Year-to-Date of employee-related data. Such information is
generally stored in a variety of payroll items like company contributions,
deduction items, and employee addition.
Before we move further, you need to run the Payroll Checkup program if you are using Basic, Enhanced or Standard Payroll for QB. When you have done that, you can create a Payroll Summary Report just remember to change the date range on this report to the date for which you want to make a change. For example, if the date falls in the second quarter, then the date range on your report has to be from 04/01 through 06/30.
Manual Payroll in QuickBooks.
Don’t forget to note the amount of the payroll item for which you would like to make an adjustment. When you are ready, pick the Adjust Payroll Liabilities option from the Payroll Taxes and Liabilities section of the menu item named Employees. These are important steps for doing Manual Payroll in QuickBooks.
When it opens, simply type in the date for which the
particular adjustment is being made in this case. Ignore the date already
entered by QB as it will most certainly be different from the date that you
want your adjustment to be effective from. If you skip this step, then your
adjustment will not take place as you wanted.
In case you hadn’t changed the quarter before just set
today’s date in this column. You also have to select the employee or employees
for which you want to adjust payroll
liabilities in QuickBooks. You next have to choose the right Payroll Item
from the drop-down list that appears in the Taxes and Liabilities section.
Created on May 6th 2019 08:09. Viewed 549 times.