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jimh3
Level 1

FUTA

I have an employee/officer that is exempt from MN SUI. Payroll is calculating his FUTA at 6% which is correct. When I filed and created the payment for the 940 the amount was correct after the FUTA reduction. I still have two reminders in Payroll Taxes to pay FUTA. My tax liability report shows I still owe FUTA. The payroll system generated an increase and a decrease for the payment amount in my FUTA Liabilities gl account. I am able to journal entry my gl acount to zero it but how can I get the Pay Taxes notifications and the Tax Liability in payroll to correct?

4 Comments 4
GlinetteC
Moderator

FUTA

Hi there, jimh3.

 

We can record prior tax payments in Quickbooks Online so the tax notification is removed. Let me show you how:

  1. From the left panel, select the Taxes tab then Payroll Settings.
  2. Click on the Enter Prior Tax History link,
  3. Choose Add Payment.
  4. Select  tax type and liability period (the period that the taxes accrued) then click enter
     Payment due
    Check Number (optional)
    Note (optional)
    Tax item amounts.
  5. Once done, click OK.

 

For more information, you can check this article on how to record a prior tax payment in QBO: Recording prior tax payments

 

If you have any other questions with the process, 

jimh3
Level 1

FUTA

I would guess this would affect the general ledger as well.

MP11
Level 2

FUTA

What are the steps in Desktop 2018 pro version? I need record the payment and I don't see the tax menu in the desktop version.

Thank you,

Mariann

SarahannC
Moderator

FUTA

Hello there, @MP11.

 

There are two different ways to record the payment using the supported version of QuickBooks.

 

I'd be glad to provide you with the steps on how you can enter them within your company file. Here's how:

 

  1. Select Help from the top menu bar, then choose About QuickBooks.
  2. Press Ctrl + Alt + Y or Ctrl + Shift + Y to open the Setup YTD Amounts window.
  3. Click Next until you reach the Enter prior payments section.
  4. In the Enter Prior Payments window, select Create Payment to enter all prior payroll tax and non-tax payroll liability payments you've made.
  5. Enter the Payment Date and For Period Ending date accordingly.
  6. In the Taxes and Liabilities field, choose the payroll tax item that you've already paid, then enter the amount.
  7. Select test the Accounts Affected... button, then select the appropriate option on how you want the payment to affect your Chart of Accounts.
  8. Click Next Payment (if you've another payment that needs to be recorded), then select Finish to complete the process.

 

If you'd like to enter historical tax payments using the payroll setup window, check this link: Use the Payroll Setup window. When recording historical payroll information to your QuickBooks Desktop Payroll, you can also use this article: Enter Prior Payroll.

 

Note: QuickBooks Desktop 2018 version is no longer fully supported by our service. You'll want to check this article for more details: QuickBooks Desktop service discontinuation policy and upgrade information.

 

If you want to download latest version, you can use this link: Downloads & Updates.

 

Also, you'll want to run these reports if you want to have an overview of the payroll amounts and tax balances: 

 

 

Comment below if you need additional assistance, Mariann. I'll be around to help. Stay safe and be well.

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