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I really just want an easy answer....I understand deductions and payroll set-up and all that, but I just feel like something is not right with my payroll liability balances as far as how they report on the Balance sheet v. the payroll liability balance v the chart of accounts balance...which payroll liability balance should I be going by??? Not tax liabilities but insurances, deducted from payroll and paid monthly....I know I have the right deductions and am paying them etc. I've been keeping track on a spreadsheet since April 1, & want to adjust for beginning April 1 to clean up the mess the person before me created - but which balance is right?!?!?!
Good day, @ProMach.
Thank you for posting in the Community. Let me help you with what to do.
I recommend you consult your accountant since I'm unable to advise you which Payroll Liability Balance is right. This way, you'll get the best accounting advice for your question. If you still don't have an accountant, you can check out this link about our new opportunity called QuickBooks Live.
Let me add this additional link to help you find training classes near you: QuickBooks Training.
Please feel free to leave a comment for further questions. Have a great day and stay safe!
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