Hi
I see there was discussion about this two years ago, but wonder if this problem has been resolved now and there is a simple way to correct this. In April 2022 payroll, the P32 shows the Employer NICs reduced to £0 by the employer allowance correctly, but the NICs due (which should be £0) is still showing as a liability and an expense in the Chart of Accounts. I have sent the EPS for April 2022. I have marked in settings that our company is entitled to the £5,000 employer allowance for 2022/23.
Does anyone know how to clear the liability and expense from the Chart of Accounts? Thank you.
Solved! Go to Solution.
Hi there, @janet-chester-no.
Hope you're doing well. Thank you for bringing up your concern.
For now, there isn't a direct way to clear the balances in COA. You may need to create journal entries to clear the liability and expenses, but we suggest consulting an accountant. You can visit this link to look for an accountant or bookkeeper near you: Find an Accountant.
Here's how to create a journal entry:
I'm also adding this article to help you along the way: Payroll Tax Changes.
Fill me in if you still have questions or concerns with QuickBooks. I'm always here for you. Take care and have a good one, @janet-chester-no.
Hi there, @janet-chester-no.
Hope you're doing well. Thank you for bringing up your concern.
For now, there isn't a direct way to clear the balances in COA. You may need to create journal entries to clear the liability and expenses, but we suggest consulting an accountant. You can visit this link to look for an accountant or bookkeeper near you: Find an Accountant.
Here's how to create a journal entry:
I'm also adding this article to help you along the way: Payroll Tax Changes.
Fill me in if you still have questions or concerns with QuickBooks. I'm always here for you. Take care and have a good one, @janet-chester-no.
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.