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Join nowOne of the state unemployment/reemployment assistance GL accounts generated an over-accrual of liability ... the percentage was .05 instead of .0005. This did NOT affect any withholding from the employee, only indicating that the liability owed to the state was significantly higher than what it should have been. When preparing the state reports, the error was discovered and the percentage was fixed. The amount actually paid to the state was correct.
I'm thinking that, since the employees pay was not impacted in any way, only the GL needs to be corrected with offset to the company payroll expense, but I'm asking just in case I'm missing something going on in the background. I have reports showing the original accrual and the "should have been" amounts that are used to calculate the correcting GL adjustment. Am I missing anything that should change my plan?
As always, thanks in advance.
I appreciate you bringing this issue to our attention regarding the over-accrual of liability in the state unemployment or reemployment assistance General Ledger (GL) account, Deadwood. Rest assured, we are taking immediate steps to rectify this issue.
In QuickBooks Desktop (QBDT), we can adjust payroll liabilities if they are incorrect. Here are the common reasons to make liability adjustments:
Here's how:
After that, run the Payroll Summary report to check if everything is correct. Then, review the Payroll Liability Balances report to verify accuracy.
For more details, you can check these links:
If you want to pull up various payroll reports in the future to see a glimpse of your payroll tasks, you can check out this article: Run payroll reports.
You're always welcome in the Community should you need further assistance managing payroll tax liabilities. We're committed to offering ongoing support. Take care.
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