QuickBooks is versatile software because of the various features and the ability to integrate third-party applications like TimeSheets, Shopify etc. In this article, we will talk about how to adjust the QuickBooks Payroll liabilities. You will also learn how to correct an employee’s year-to-date (YTD) information in your QuickBooks Payroll Items.  Company Contributions, Employee Addition, and Deduction Payroll items can all be modified. Now, if you need any help with your QuickBooks Payroll Liabilities or QuickBooks Payroll, simply call on the toll-free QuickBooks Payroll Support Phone Number +1-800-366-1468.

adjust quickbooks payroll liabilitiesSteps To Adjust QuickBooks Payroll Liabilities

  • First of all, create a Payroll Summary report.
  • Go to your Payroll Summary Report and change the date range.
  • The date range should match the effective date on your liability adjustment.
  • For 1st quarter adjustment, the dates on the report should be From Date of 01/01 through 03/31.
  • Consider the amount in the Payroll item which you want to adjust.
  • Now, open QuickBooks and head to the Employees Menu.
  • Click on Payroll Taxes And Liabilities.
  • Now, choose Adjust QuickBooks Payroll Liabilities.
  • Go to the date field and type in the date for which you want to make an adjustment. QB automatically fills the current day into the field. You have to manually enter the date for which you want to make an adjustment. Or else, this item will not appear in the Payroll Summary Report.
  • Go to the effective date field and type in the date for which you want the adjustment to affect the liability balance. This date will be utilized by QuickBooks for calculating amounts in form 940 and 941. Payroll Liability Balances Report will also use this balance.
    • Basic, Standard, or Enhanced Payroll– Make sure that the date is same as on the last paycheck. Check the Paycheck for the affected quarter or the current date. It is applicable for the adjustment of the current quarter.
    • Assisted Payroll – In case of previous quarter adjustment, use the last day of that quarter. For the current quarter, use the date from the last paycheck.
  • Now, you have to decide if you wish to associate this liability adjustment with the company or an employee of that company.
  • Go to the Taxes and Liabilities section.
  • Open the Item Name drop-down menu and click on the correct Payroll item.
  • Type in the amount of the adjustment in the amount column.
  • For increasing the amount owed, type in a positive number in the Amount field. You will get a prompt on your screen from QuickBooks to create a Paycheck if you chose to associate this adjustment with an employee in the earlier steps.
  • For decreasing the amount owed, type in a negative number in the amount field.
  • Go to the Memo field, type in a note for the adjustment for future use.
  • Choose Accounts Affected. Select either Do not affect accounts or Affect Liability and Expense accounts and click on Ok.
  • For additional employees, choose Next Adjustment.
  • Now, repeat all the steps for every single employee.
  • In case, there are no additional employees, just click on Ok for saving the entry.
  • Make sure that all the totals are correct and also review the Payroll Summary Report.
  • If you are using Assisted Payroll, you need to send a zero payroll.
  • Payroll service will be notified and they will make the changes.
  • In case a liability check had already been made for the old payroll item, the Payroll Liability Balance Report shows a negative balance.
  • As well as the new item shows a positive balance as a result of the modification.

You’re able to fix more than one payroll liability at a moment. The essential thing to keep in mind is which period you are adjusting to.

Follow The Steps Carefully or Contact Our ProAdvisorsHow To Contact QuickBooks Support Services For Payroll Liabilities?

We hope that you now understand the process involved in adjusting QuickBooks Payroll Liabilities in QuickBooks. We are also presuming that now you will be able to adjust QuickBooks Payroll Liabilities on your own. However, if that is not the case, you can choose to take help from the QuickBooks Experts of supportforerror. To get in touch with the QuickBooks Experts, you must dial the toll-free QuickBooks Support Phone Number +1-800-366-1468. Our support line numbers are active 24/7.

QB Users can also connect with QuickBooks Experts for QuickBooks Payroll Liabilities support by using the Live Chat Support button on our website. Simply click on the Live Chat Support button fill in the details in the space provided and click on submit. You will get a reply from the QuickBooks Technical Support Department in less than 1 minute.

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