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Welcome back to QuickBooks Community, FMWjen. I'll share steps to ensure you're able to zero the liabilities so that they do not appear on the balance sheet.
Since the payroll taxes are paid, but the liabilities appeared in the company balance sheet, I suggest creating a journal entry. This way, you're able to transfer the amount paid for the payroll liabilities from one account to another. While doing this, I'd recommend consulting an accountant for guidance so your account stays accurate.
Here's how:
- Go to the Company menu and select Make General Journal Entries.
- Fill out the fields to create your journal entry. Make sure your debits equal your credits when you’re done.
- Hit Save or Save & Close.
For additional information, you can click this article: Create a journal entry in QuickBooks Desktop for Windows or Mac.
Please refer to this article to see different information about a variety of circumstances that can cause temporary penny differences that usually due to rounding in paycheck or tax calculations: Why do I occasionally notice penny rounding differences?.
The Community will always have your back if you need a hand with processing your payroll forms or any QuickBooks related. We are just one post away. Have a great day.
