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Intuit

Apply your payroll liability overpayment as a credit

Learn how a liability overpayment can be applied as a credit.

Do you have a liability overpayment? If so, you can apply it as a credit to a payroll tax account. We show you how.

Before applying a tax credit, talk to your accountant. Find out which account to select so the credit is correctly applied in your tax forms.

To apply a tax credit follow these steps.

  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. Enter 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.

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