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WendyJT
February 9, 2021
Solved

Fix/delete/correct liability payment

  • February 9, 2021
  • 1 reply
  • 5 views

2020 - State of Maine Unemployment and CSSF  -  These taxes are paid online 

 

What happened was...Q1 in 2020 I paid late, it was due by April 30 but paid second week in May.   So, I paid a late fee of $14.61 interest.  Q2 was paid on time, Q3 was paid on time.  When I went to pay Q4 the amount owed was $14.61 lower than what QuickBooks figured.   I paid Q4 short the $14.61 which left $14.61 in the liability account which QuickBooks thinks is now late.  After a little research, I found out that because of Covid-19, they forgave my lateness and applied the check to our account.   

 

My question is, how do I now clear the $14.61 amount shown as late in the liability account, and get the funds back into my checking account?  Or, is there some way to change the check to make it pay the liability?

Please note that this check is cleared.

I should also add that the $14.61 is made up of .38 cents for Maine Unemployment and $14.23 of CSSF.

 

 

 

Best answer by ReymondO

I'm here to help you correct your payroll liability payment in QuickBooks, @WendyJT.

 

To make sure that your records in QuickBooks Desktop are aligned with your actual bank statement, we can delete the tax payment that was recorded in your last quarter. Then, recreate it with the actual amount you've paid in your state.

 

Simply follow these steps to locate and delete the Q4 tax payment:

 

  1. Go to the Employees menu and select Payroll Center.
  2. Click the Payroll tab, then select Pay Liabilities.
  3. Under the Payment history section, click All Payments, locate your last quarter tax payment.
  4. Double-click the transaction to open and select Delete. Then, select Yes to confirm.

 

Once done, follow the steps in this article to recreate your tax payment: Create an unscheduled or custom liability check.

 

 After that, let's record the refund check that was given by your state. All you have to do is create a payroll liability refund check to get the amount back in your bank.

 

I'd also recommend reaching out to your accountant for further advice on how to properly handle your tax records in QuickBooks. This way, we can make sure that your books are accurate once you close them.

 

You can also run the Payroll Liabilities Balance report in QuickBooks. This way, you can check how much you owed for each tax, deduction, and company contribution assigned to your payroll item.

 

Let me know how else I can help you with QuickBooks by adding a comment below. I'm more than happy to lend a helping hand. Keep safe!

1 reply

R
ReymondOModeratorAnswer
Moderator
February 9, 2021

I'm here to help you correct your payroll liability payment in QuickBooks, @WendyJT.

 

To make sure that your records in QuickBooks Desktop are aligned with your actual bank statement, we can delete the tax payment that was recorded in your last quarter. Then, recreate it with the actual amount you've paid in your state.

 

Simply follow these steps to locate and delete the Q4 tax payment:

 

  1. Go to the Employees menu and select Payroll Center.
  2. Click the Payroll tab, then select Pay Liabilities.
  3. Under the Payment history section, click All Payments, locate your last quarter tax payment.
  4. Double-click the transaction to open and select Delete. Then, select Yes to confirm.

 

Once done, follow the steps in this article to recreate your tax payment: Create an unscheduled or custom liability check.

 

 After that, let's record the refund check that was given by your state. All you have to do is create a payroll liability refund check to get the amount back in your bank.

 

I'd also recommend reaching out to your accountant for further advice on how to properly handle your tax records in QuickBooks. This way, we can make sure that your books are accurate once you close them.

 

You can also run the Payroll Liabilities Balance report in QuickBooks. This way, you can check how much you owed for each tax, deduction, and company contribution assigned to your payroll item.

 

Let me know how else I can help you with QuickBooks by adding a comment below. I'm more than happy to lend a helping hand. Keep safe!

W
WendyJTAuthor
February 10, 2021

So I guess what you are saying is that I need to delete my tax payment, recreate it for the original total so that the liability numbers match, and then correct the check that I sent to the state of Maine for the interest by creating a refund check from the state to offset the amount.   Am I correct?

L
lin_jcaj
Level 9
February 10, 2021

Thanks for getting back to us, WendyJT.

 

Yes, you are correct. Doing the process will let QuickBooks Desktop show the same amount to what actually happened and gone out and into your bank.

 

Also, check these resources related to payroll liabilities for additional reference and guidance:

 

You can always get back to me if you have other payroll concerns. I'm here to help.

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