I'm here to ensure you can correct payroll liabilities to prevent discrepancies when submitting your payroll tax forms, skyline-llc. Let me provide steps to guide you through the process.
Please know that Payroll Checkup will only rectify wave base discrepancies. When running the tool, you can review possible errors within your data and its corresponding resolution. For more information, refer to this article: Run Payroll Checkup in QuickBooks Desktop Payroll.
Meanwhile, you can create payroll liability adjustments to correct tax amount discrepancies. Let's begin by verifying and jotting down the payroll items and amounts you need to adjust using the payroll summary report.
After that, proceed to these steps to prepare the adjustments:
- Head to Employees, then Payroll Taxes and Liabilities.
- Choose Adjust Payroll Liabilities and pick the last paycheck date of the affected month or quarter in the Date and Effective Date fields.
- Click Employee Adjustment in the Adjustment is for: section, then select the employee's name.
- Provide the payroll item you need to update from the Item Name column.
- Key in the adjustment amount. Enter a positive amount for the under-withheld item and a negative one for the over-withheld item.
- In the Income Subject to Tax column, type in the amount to make a wage base adjustment if necessary and add a note for reference under the Memo field.
- Pick the Accounts Affected, then hit OK. Select Do not affect accounts to not change the balance on liability and expense accounts, which you'll only modify the year-to-date amounts on your payroll reports. Otherwise, choose the Affect liability and expense accounts.
- Close the Affect Accounts window by clicking OK.
- You may create adjustments for additional employees through Next Adjustment or save the changes if there are none by selecting OK.
Finally, proceed to Step 3 in this material to ensure liabilities are updated: Adjust payroll liabilities in QuickBooks Desktop Payroll.
On the other hand, you need to contact our technical support team for further assistance if you need to complete an adjustment for a previously filed tax form or payment and you're using QuickBooks Desktop Payroll Assisted.
Moreover, you might want to generate different reports to get a glimpse of your business and employees. Consider visiting this material for guidance: Run payroll reports.
I'll be right here in the Community anytime you need help mending payroll liabilities in QuickBooks Desktop. Kindly return to this thread and leave any of your inquiries below.
