Balance and Profit and Loss Statements

Some expense is being wrongly posted as a payroll type or there would not be any payroll liabilities.  You will have to find the underlying expense and edit same.

I have gone thru it 4 times. 

Where do I go exactly to see where it could be labeled wrong? 

Thanks for coming back, JEwing04.

I appreciate you for reviewing the transactions in both reports. If the payroll liabilities are invalid transactions, you may delete the transactions to remove them from your reports.

Before doing so, let's create a backup copy of your company file. This way, you can restore your data if you run into problems like removing the incorrect one. Just follow the steps and details in this article: Back up your QuickBooks Desktop company file.

Then, remove the payroll liabilities showing in the payroll schedule. You can follow the steps in this article: Remove or delete a scheduled payroll liability.

If you are not sure if they are valid entries or should be recorded in QuickBooks, I'd suggest contacting your accountant. They'll help review and verify the payroll liabilities.

I have a link here that provides you with articles about managing your balance sheet and profit and loss reports: Financial reports.

I'm just one click away if you need a hand with customizing reports or any QuickBooks related. I'm always here to help. Have a great day ahead.

We do not have payroll. I just looked at the employees section. We have nothing listed. We are a non profit organization and do not pay salary to anyone. Now what????

Let me help you in fixing it, JEwing04.

We can check it to see if some transactions are posted to payroll liabilities accounts. When you pull up either the Balance Sheet or Profit and Loss, let's drill it down to see the transaction. Simply click on the payroll liability amount to open the transactions. Then, update the account being used. Once done, let's run the same report again. 

We can also pull up a different report to review your transactions. Please follow these steps:

1. From the Reports menu, hover over Custom Reports and select Transaction Detail.
2. On the Modify Report window, go to the Filters tab. Select the Account under Filters section.
3. Under Account drop-down, select the payroll liability account showing on the Profit and Loss and Balance Sheet.
4. Click OK.

It will show all the transactions that are posted into the payroll liability account. Just click on the transactions so we can update them.

Please comment again if you have more questions. I'll be here to assist you.