What is the best way to correct employees YTD medicare and social security withholding. For 2 months they were overwitheld because of an error in the set up of 125 insurance premiums.
Also, can you turn the payroll auto correct feature off
It's nice to have you today, @pg8,
I can help you correct your employees year-to-date information so you can get back on track.
Let's pull up a Payroll Detail Review report to verify the taxes withheld and the difference. Here's how:
You can get the correct calculation by multiplying the total wage base for each payroll item by the corresponding tax rate.
You can rectify any discrepancy by creating a liability adjustment. Here's how:
I've included here an article to help you complete the correction process:
Adjust payroll liabilities
Correct year-to-date (YTD) when the wrong tracking type was used.
Regarding your second question, we're currently unable to stop the auto-correction feature in Quickbooks. It is a built-in feature to make sure the system is on top of your tax processing.
That should do it. Please let me know if you have any questions with the steps. I'll be more than happy to help you anytime. All the best!