Entering deposits into QBooks that were EFT deposits into checking account

Thank taking the time to post today, PHI89.

I'll the article with detailed steps to guide you in recording your refund. Please check this out: Record a payroll liability refund check. The steps will guide you to choose which taxes have refunds and which bank account you want to deposit the refund to.

After entering the transactions, you can reconcile your account.

Let me know if you need more help with your tax refunds.

This is not a payroll tax refund. These were quarterly federal and state payments that ended up being over paid, and so after the 2019 1040 was filed, we received a refund. 

This was not a payroll tax refund. This was from over payment of quarterly federal and state taxes. After we filed our 2019 1040 in April 2020, we received federal and state refunds for the over payments of what was paid in 2019. 

Good day, PHI89. I'd be pleased to help you enter your overpayment of quarterly federal and state taxes in QuickBooks Desktop.

You can create a liability check to enter the overpayment and apply it to your next period. Here's how:

1. Create a liability check.
2. Select the Expenses tab. And select the account where you want to apply the credit.
3. Enter the amount of the credit (only up to the amount of the check) as a negative figure in the Amount field.
4. Add an explanation of the transaction in the memo field.
5. Select the Recalculate button to lower the amount of the check by the amount of the credit. If there is a credit balance remaining, you can apply it to the next period by repeating steps 1 through 4.

In case you need help with removing overdue liabilities, you can refer to this article for the detailed steps and instructions: Enter historical tax payments in QuickBooks Desktop Payroll.

Please let me know how it goes by leaving a comment below. If you have more questions about overpayments or need anything else in QuickBooks, don’t hesitate to ask. I’ll be here to help. Have a most pleasant day!