Adjust Payroll GL Account without Adjusting Liabilities Due
I need to adjust the year end GL account for Payroll Liability, it's showing a balance as if we overpaid. We did not over pay. When I adjust the liability in Adjust Payroll Liabilities, it is putting the amount due like we need to pay it, but we don't need to pay it. It was an error from the previous bookkeeper so I need it to go away from showing owed or overpaid on the Balance Sheet and Liabilities Payables.
Adjust Payroll GL Account without Adjusting Liabilities Due
If you didn't overpay, then you must have under-accrued the tax(es) in question.
Make sure the liability adjustment matches the period where the over-payment happened. For example, if you pay a tax monthly and it was overpaid in January - compared to what was accrued - then make sure the liability adjustment for the overpaid tax is for the January payment period.
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