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Best answer October 27, 2023
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Thank you for getting back to us, @Operations22.
I'm here to help you add the Medicare taxes of your employee for the third quarter.
As mentioned by my colleague above, you can run a payroll checkup. Before doing so, make sure to check the Medicare taxes of the employee. It is to ensure that the employee will be deducted moving forward.
Once done, run a payroll checkup. It will let QuickBooks to create an adjustment for the liabilities.
You can then run a Payroll Summary report for the third quarter. It will let you check the amount to be adjusted. See the employee wage amount and multiply it by the Medicare rate 1.45%. See the screenshot below for the rate.
If there is a difference between the report and your calculated rate, you can create manual adjustments.
Here's how:
- Go to Employees, then Payroll Taxes and Liabilities.
- Click Adjust Payroll Liabilities.
- In the Date and Effective Date fields, choose the last paycheck date of the affected month or quarter.
- In the Adjustment is for: section, select Employee Adjustment to correct your employee’s YTD info. Then click the employee's name. Do this even if the item being adjusted is a company-paid item.
- Under the Item Name column, select the payroll item you want to adjust.
- Enter the Amount of the adjustment.
- If the item is under-withheld, enter a positive amount to increase.
- If the item is over-withheld, enter a negative amount to decrease.
- Enter the amount under the Income Subject to Tax column if you need to make a wage base adjustment.
- Under Memo, enter a note about the adjustment for reference.
- Select Accounts Affected, then OK.
- Choose Do not affect accounts to leave balances unchanged for the liability and expense accounts. The adjustment will only change the year-to-date amounts on your payroll reports.
- Select Affect liability and expense accounts if you want the transaction to reflect in the liability and expense accounts.
- Click OK to close the Affect Accounts window.
- Choose Next Adjustment if you have additional employees to enter an adjustment for. Otherwise, select OK to save the changes.
You can refer to this article to adjust payroll liabilities: Adjust payroll liabilities in QuickBooks Desktop Payroll.
For future reference, I'm also adding this article about viewing previously filed tax forms and payments: View your previously filed tax forms and payments.
Let me know if you have questions about payroll liabilities in QuickBooks Desktop Payroll. I'm always here to help. Have a great day.
Thank you for getting back to us, @Operations22.
I'm here to help you add the Medicare taxes of your employee for the third quarter.
As mentioned by my colleague above, you can run a payroll checkup. Before doing so, make sure to check the Medicare taxes of the employee. It is to ensure that the employee will be deducted moving forward.
Once done, run a payroll checkup. It will let QuickBooks to create an adjustment for the liabilities.
You can then run a Payroll Summary report for the third quarter. It will let you check the amount to be adjusted. See the employee wage amount and multiply it by the Medicare rate 1.45%. See the screenshot below for the rate.
If there is a difference between the report and your calculated rate, you can create manual adjustments.
Here's how:
- Go to Employees, then Payroll Taxes and Liabilities.
- Click Adjust Payroll Liabilities.
- In the Date and Effective Date fields, choose the last paycheck date of the affected month or quarter.
- In the Adjustment is for: section, select Employee Adjustment to correct your employee’s YTD info. Then click the employee's name. Do this even if the item being adjusted is a company-paid item.
- Under the Item Name column, select the payroll item you want to adjust.
- Enter the Amount of the adjustment.
- If the item is under-withheld, enter a positive amount to increase.
- If the item is over-withheld, enter a negative amount to decrease.
- Enter the amount under the Income Subject to Tax column if you need to make a wage base adjustment.
- Under Memo, enter a note about the adjustment for reference.
- Select Accounts Affected, then OK.
- Choose Do not affect accounts to leave balances unchanged for the liability and expense accounts. The adjustment will only change the year-to-date amounts on your payroll reports.
- Select Affect liability and expense accounts if you want the transaction to reflect in the liability and expense accounts.
- Click OK to close the Affect Accounts window.
- Choose Next Adjustment if you have additional employees to enter an adjustment for. Otherwise, select OK to save the changes.
You can refer to this article to adjust payroll liabilities: Adjust payroll liabilities in QuickBooks Desktop Payroll.
For future reference, I'm also adding this article about viewing previously filed tax forms and payments: View your previously filed tax forms and payments.
Let me know if you have questions about payroll liabilities in QuickBooks Desktop Payroll. I'm always here to help. Have a great day.
