Running 941 schedule B, and I got the error 'line 12 doesn't match Schedule B' error. It was $33.75 off on a $10k tax bill. So I ran reports on every check and one employee check from three months ago clearly had the tax withholding calculated incorrectly.
In my haste to file my 941 timely, I manually overrode the Schedule B entry for entry week to be the correct amount (on the schedule B form only.) Then I filed a return saying I underpaid by $33.75. But the warning on QB was my manual adjustment would only affect Form B / 941 - not impact my books. So, what now?
Now, specifically, what accounting entries should I make? To be super specific, per Quickbooks, employee gross pay was $880, SS withholding and company each were $40.88, Medicare each were $9.56. By my calculations, SS withholding SHOULD have been $54.46, and Medicare $12.76 for that gross pay.
Your help would be greatly appreciated, TIA!
Jeff