QuickBooks Team
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Re: How do I correct a tax overpayment so that I can submit my NJ927 tax form?

Thanks for your prompt response and for the explaining us further about your concern, MRL.

 

I can help you correct the negative balance showing on your NJ927 form in QuickBooks Desktop.

 

First, let's open the liability check after you enter the liability adjustment. In the Payroll Liabilities tab, make sure the amounts shown per payroll item matches the amount of your Payroll Summary report.

 

To locate liability check, you can follow the steps below:

  1. From the Employees menu, click Employee Center.
  2. Choose the Transactions tab.
  3. Click Liability Checks.
  4. Locate the check and select the Payroll Liabilities tab. Take note of the payroll items and the amount to make sure it matches your Payroll Summary report.
  5. In the Expenses tab create an asset account (NJ Over-payment) Amount = the over payment. 

Here's how to run the Payroll Summary Report in QuickBooks:

  1. Go to Reports.
  2. Click Employees & Payroll.
  3. Choose Payroll Summary.

I've also attached some screenshots below so you can have a better view.

 

 

 

Entering the over payment amount from your liability check's Expense tab will correct the negative balance of your NJ927 form.

 

This should how your NJ927 form would look like after applying the over payment.

 

This will get you on the right track. You can always count me in for any questions you may have while working with your payroll forms in QuickBooks. Have a great day ahead.