i have made 10 clean 941 tax payments via EFTPS this year (march thru dec) based on payroll run for 10 months (feb thru nov). Everything looks clean in my books except for some reason ONE of the 10 tax payments is showing up as an "expense" instead of "tax payment". and is showing as a positive number while all the clean payments are showing as negative numbers. Furthermore, it somehow was incorrectly flagged as a 940 instead of a 941.
Questions: How do i fix this so it is correctly tagged and match as a "Tax payment" and tagged as the 941 so everything is clean? my books appear to reconcile fine despite this issue, but it doesnt make sense...and every time i try to change anything its grayed out and i cant touch it.
It’s nice to see you in the Online Community, TaxNewb618.
I'll be your guide to help in changing the tagging of your 941 payments from expense to tax payments.
If the taxes are electronically paid, the option to update the mapping directly to the transactions is not available at this time. You’ll need to change the Accounting Preferences to properly map them.
That’s it. By following the resolution steps, the 941 payments are already tracked as Tax payment.
Keep me posted if you have questions about QBO. I’ll be around to answer them. Have a great day ahead.
Thank you for the help here. I followed your instructions verbatim but unfortunately the payment is still showing as an expense and NOT showing up when i view my tax liability report as paid taxes.
(FYI, all of my tax categories were already set up correctly per your instruction---IE, 941, 940, etc flagged as tax payments). So basically all i did was change the date back to Jan 1 2018 and hit update, but it didnt change anything. i should have 10 "tax payments" and i still only have 9, with the 10th being listed as an expense, but "categorized" as payroll 941 tax... the category apparently means nothing---its all based on the "Type" which i cannot change :(
Hey there again, TaxNewb618.
I appreciate you following the steps to correct the mapping of the tax payments. Let’s try performing another troubleshooting to resolve this.
Since the 941payments were made via EFTPS, you also need to manually enter the transactions through the Pay Taxes window instead of writing checks or expenses. For the detailed instructions, follow the steps below:
Once done, let’s go back to your register and delete 941 payments that show as expenses. This is to avoid duplication of transactions.
To remove the transactions:
You can follow the same steps for the remaining transactions to be deleted. For more details about recording tax payments and deleting transactions, you can check out and bookmark these articles:
The resolution steps will help you moving today.
Leave me a comment below if you have additional concerns. I'm here to help anytime. Have a great weekend ahead.
Thank you for all the help--i must be doing something wrong. I can't get it to disappear from expenses without my reconciliation being off. And "record tax payment" only shows up for due taxes/future taxes....and there is no option to change any dates or anything.
I'll figure it out.
Hello there, @TaxNewb618.
Making sure our software meets your business needs is my priority. With that being said, allow me to ensure you're getting the right support in correcting your tax payments' records.
To help us narrow down the cause of this issue and fix it for you, there would be a need for us to access your account on a secured environment. Since the Community page is a public space, I’d recommend reaching out to our Payroll Support Team. A specialist will further check on the root cause of this ongoing concern with recording your tax payments via secured remote access session.
Here's how to contact us:
Let me know if your have follow-up questions about creating recording your payroll tax payments. I'm always here to help.