Created with Sketch.Learn about PPP and Loan Forgiveness, stay informed with the latest changes.
Created with Sketch.Need help with 1099's or other Year End topics? Visit our Year End Resources page.
Created with Sketch.New to QuickBooks or using a new product? Visit our Get Started resource page to help you get going.
Created with Sketch.Need to make changes to your account? Visit the Account Manager Portal.
cancel
Showing results for 
Search instead for 
Did you mean: 
Level 1

Adjust payroll liabilities

I under withheld social security from an employee's paycheck on the last paycheck of last year. I am trying to figure out how to adjust the accounts so that I can make my liabilities payment and how to withhold the amount from the employee's future check but still have it come out on last years payroll reports (for tax purposes). I have tried using Adjust payroll liabilities which fixes the accounts in Quickbooks but I am unsure how to proceed from there or if that is the correct way to do it. Thank you.
Solved
Best answer January 03, 2019

Best Answers
Community Champion

Adjust payroll liabilities

I would not use adjust liabilities to correct this. Instead I would edit the paycheck by 

  1. correct the under withholding
  2. add the difference as Employee Advance
  3. In a future check deduct the repayment of Employee Advance

Otherwise you would have to adjust liabilities a second time in 2019 . Your employer share is affected as well by the under withholding

View solution in original post

2 Comments
Community Champion

Adjust payroll liabilities

I would not use adjust liabilities to correct this. Instead I would edit the paycheck by 

  1. correct the under withholding
  2. add the difference as Employee Advance
  3. In a future check deduct the repayment of Employee Advance

Otherwise you would have to adjust liabilities a second time in 2019 . Your employer share is affected as well by the under withholding

View solution in original post

Level 1

Adjust payroll liabilities

Thanks.  I was just wanting to make sure it didn't affect our annual taxes when the time came.  I actually got the company withholding right I just missed a number when typing the employee side.

Sign in for the best experience
Ask questions, get answers, and join our large community of QuickBooks users.
Sign In / Sign Up

Need to get in touch?

Contact us