Hello.
I run payroll through a 3rd party and I am attempting to reconcile our account. I am running into a couple problems as I reconcile.
1. Our payroll service takes 4 separate payments from our bank account: Child Support, Payroll Billing, Direct Deposits, and Tax Liabilities (including MO Withholding, Federal, FUTA, and SUI all in one chunk)
As well as doing payroll through our third party, I use quick books to run payroll like normal, except I print stubs for the employees instead of checks. This is how I write live checks as well for newer employees and it works well. I have found that some tax numbers dont match up 100% so I do make those adjustments, making sure they match our payroll service company.
I have found a way to work around everything for the reconcile EXCEPT for FUTA and SUI. Since this is quarterly and not weekly/monthly I have not found a solution to "pay the liability". Its easy to do for child support and Withholding.
2. Should I just stop quickbooks from calculating liabilities and just create journal entries for them?
*While still making sure I do the pay employee part (incase of live checks) and entering correct tax info.
I have looked everywhere and cannot seem to figure out what is best to balance these months.
