Non-Tax Payroll Liabilities

drew93 · ‎April 22, 2022

Hello,

I am fairly new with my employer and have been working to reconcile non-tax payroll liabilities from 2019-2021.

Currently, I am trying to reverse a liability adjustment that occurred in 12/2019 but I am not able to create a reversal liability adjustment in 2022 that will impact 2019. Also, I do not want to make changes to the original adjustment in fear that it will impact our expense accounts and cause them to differ from our previously filed tax returns. Is there a way or recommendation to clear this issue?

I also have a liability check that was written incorrectly in 6/2021 that needs to be reversed? Would it be better to void the check or create a liability adjustment to reverse this incorrect payment?

SarahannC · ‎April 22, 2022

Welcome to QuickBooks Community, @drew93.

I'd be glad to share some information about reversing a liability adjustment within your company file.

Since you're creating a reversal liability in 2022, you won't be able to make a reversal liability adjustment that affects the year 2019. The dates you use in this process will only apply to that particular date. With that, 2019 should be your set date.

Also, the liability adjustment will only affect the amount of liabilities, not the payments. Since you would need to correct the payment, you can either delete or void it.

I've gathered some articles that you can use for additional reference:

Visit again if you have additional QuickBooks concerns, drew93. Stay safe.

View solution in original post

SarahannC · ‎April 22, 2022

Welcome to QuickBooks Community, @drew93.

I'd be glad to share some information about reversing a liability adjustment within your company file.

Since you're creating a reversal liability in 2022, you won't be able to make a reversal liability adjustment that affects the year 2019. The dates you use in this process will only apply to that particular date. With that, 2019 should be your set date.

Also, the liability adjustment will only affect the amount of liabilities, not the payments. Since you would need to correct the payment, you can either delete or void it.

I've gathered some articles that you can use for additional reference:

Visit again if you have additional QuickBooks concerns, drew93. Stay safe.

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