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Join nowHello,
I use Enterprises Solutions 21.0. In Q2 of this year I unknowingly paid ESD twice. I now have a Credit of $16,556.02 at ESD (no refund check). How do I post this to QB and how do I apply the credit to Q3.
Everything I have tried misses up my balance sheet and it still stays in transactions as open balance.
Help :-)
Solved! Go to Solution.
Hi Pro Grade Enterprises Inc!
Thanks for the reply. Let me further assist you in recording the credit.
After recording the credit, you can create a liability check so you can apply it to Q3. For the detailed steps, you can check this link: Apply your payroll liability overpayment as a credit.
I also added some links you can check. These will explain further how to pay payroll liabilities in QuickBooks Desktop:
Record tax credits to QuickBooks affecting reports and asset accounts
Set up and pay scheduled or custom (unscheduled) liabilities
Keep on posting here if you have additional payroll concerns. Take care!
It's nice to have you here in the QuickBooks Support page, @Pro Grade Enterprises Inc.
I can help you record the credit you receive and apply it to your tax liabilities.
Before that, we need to check first your liabilities in QuickBooks to identify how we can record the credit properly. You may need to check your liability account for any amounts with negative values that matches with the amount of refund and the tax item.
If there are no matching credits because of duplicate payments, create a regular bank deposit (Banking > Make Deposits). Post the deposit to Payroll Expense account to show the overpayment and reduce the liability amount.
Otherwise, if there are matching credit in the liabilities, you need to create a refund check for it. The instructions are found in this article: Record a payroll liability refund check
Please visit us again if there are other concerns with tax refunds or payroll that you need help wit. I'll be right here to provide further assistance. Have a nice day!
Thank you, I got the refund posted and my balance sheet looks Great this time. I made the deposit then posted the posted the funds to the Cash goes back to field. The funds did not hit my bank register so I think I am good with this step.
Next step - I now how the credit balance. How do I process my Q3 21 now??
This is much easier when you just get a check back. :-)
Thanks for the help
Hi Pro Grade Enterprises Inc!
Thanks for the reply. Let me further assist you in recording the credit.
After recording the credit, you can create a liability check so you can apply it to Q3. For the detailed steps, you can check this link: Apply your payroll liability overpayment as a credit.
I also added some links you can check. These will explain further how to pay payroll liabilities in QuickBooks Desktop:
Record tax credits to QuickBooks affecting reports and asset accounts
Set up and pay scheduled or custom (unscheduled) liabilities
Keep on posting here if you have additional payroll concerns. Take care!
Thank you
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