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Level 2

How do I adjust an incorrect company contribution?

I need to reduce the amount for Personal Use of Company Vehicle for current year. When I enter a liablilty adjustment it doesn't change anything. Employee has already paid taxes on fringe benefit.
3 Comments
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Moderator

How do I adjust an incorrect company contribution?

I'm here to help you correct the company contribution on your end, lisac2.
 

We can see the Company and Employee option under Adjustment is for when making adjustments.

 

If you want to affect the changes to the employees, let's ensure to select the Employee and choose their name by clicking the drop-down arrow next to the options. Then, enter the necessary information and click OK. See the sample screenshot below:

liabilitites.PNG

 

I would like to attach this article. It's all about setting up pay scheduled and custom unscheduled liabilities in QuickBooks Desktop (QBDT).

 

Let me know if you have other questions in QBDT. I'm always here to answer them. I hope you're having a great day. Take care!

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Level 2

How do I adjust an incorrect company contribution?

Hi Sarah.  There isn't a screen shot attached but I know what you are talking about.   I only use the "Amount" column, correct?   When I do that, then run the Form 941 it reduces wages for Federal Withholding but it doesn't reduce wages to the lines for Socia Security or Medicare or for our Oregon Quarterly reports.

Highlighted
Level 2

How do I adjust an incorrect company contribution?

Now I see your screen shot :)

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