Designating tax payments to correct accounts is essential in keeping accurate records in the system, jstuber. I can share why modifying the associated bank account for tax payments is not an option in the program.
Once you've recorded a tax payment in QuickBooks Online (QBO), this data is considered a finalized transaction. Thus, changing its recorded bank account is unavailable. It helps maintain integrity in your financial entries and avoid discrepancies that could affect historical data.
If necessary changes are needed to be applied, you may continue using the journal entry (JE) feature or delete and recreate the payment. Please note that tax payments can only undone or deleted if:
- It's manually recorded and not electronically processed.
- The payment is not yet transmitted or accepted by the receiving agency.
I'll provide the steps below as a reference for deleting and recreating tax payments:
- Go to the Payroll menu and then Payroll Tax.
- From the Payments tab, select the Payment history option.
- Modify the date range. Then, locate and click the payment from the list.
- Hit Delete payment, and then Yes, delete to confirm the action.
- Recreate the payment and record it to the correct account.
Moving forward, kindly let your clients use the registered account on their payroll setup to pay their payroll taxes.
I've also added this resource for future use once you're ready to wrap up your client's entries for 2024 and prepare for the following year's payroll: Year-end checklist for QuickBooks Online Payroll.
I'm still here and ready to assist. That said, hit the Reply button should you have more questions about tax payments and their designation to accounts or need help handling other payroll transactions and data. I'll be in all hands to guide you every step of the way.
