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dr-shane-garrett
Level 2

How do I record payment of a employee benefit liability using Quickbooks Online? I "see" the liability in my Balance Sheet Report.

Balance Sheet shows the liability and I have an uncategorized transaction for payment of that liability. I'm not sure how to correctly categorize that payment to show payment of the current liability.
4 Comments 4
GlinetteC
Moderator

How do I record payment of a employee benefit liability using Quickbooks Online? I "see" the liability in my Balance Sheet Report.

I've got the steps you'll need on how to properly record the payments in QuickBooks Online, dr-shane-garrett.

 

To properly track your payment, you can record it through the Payroll Taxes. I'll walk you through how to do it:

 

  1. Go to Taxes and select Payroll Tax.
  2. Select Payments.
  3. Select Make Payment.
  4. Follow the on-screen steps to complete your tax payment.

If the uncategorized payment was entered manually, you can delete it and record it via the Taxes tab instead.

 

Here are payroll taxes-related articles for additional reference and guide:

 

 

If you have any other additional payroll concerns, please add them below. I'll be sure to help.

dr-shane-garrett
Level 2

How do I record payment of a employee benefit liability using Quickbooks Online? I "see" the liability in my Balance Sheet Report.

I'm using a 3rd party payroll -- Gusto.  I think I figured it out.   I created a Journal Entry.   Debited the Benefits Liability account and credited the business checking account.   Now that Liability is off the Balance Sheet.   Does this sound correct?

dr-shane-garrett
Level 2

How do I record payment of a employee benefit liability using Quickbooks Online? I "see" the liability in my Balance Sheet Report.

I use a 3rd party Payroll - Gusto.  I think I figured it out.   I created a Journal Entry and debited the Benefits Liability account and credited the Business checking account.  Now that employee Benefits Liability is off the Balance Sheet report. Sound correct?

JasroV
QuickBooks Team

How do I record payment of a employee benefit liability using Quickbooks Online? I "see" the liability in my Balance Sheet Report.

Thanks for sharing the steps you've performed to fix this, @dr-shane-garrett.

 

I want to ensure you're properly guided in recording this in your QuickBooks Online (QBO) account. 

 

I recommend working with your accountant for additional guidance. They can provide you their expert advice on which account to debit and credit. If you don't have one, you can visit our ProAdvisor page and look for one from there. 

 

I've also added this article for additional reference: Manually enter payroll paychecks in QuickBooks Online.

 

When everything is all in place, you'll want to read these links for future guidance. These can guide you on how to file your payroll tax and ensure your accounts is well accounted for:
 

 

Need further assistance entering and managing your payroll? You can always leave a reply below with more details about it and I'll get back to you as soon as possible. 

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