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Follow the simple steps in order to adjust payroll liabilities in QuickBooks successfully. Usage of these steps will help you make changes in an employee’s contributions, employee addition, and adjust deduction payroll items.

IMPORTANT NOTE

You need to run Payroll Checkup if you’ve subscribed to the Basic, Standard, or Enhanced Payroll versions. Get in touch with the team of Account Cares if you are a user of the Assisted Payroll version.

Step 1: – Generate or Make a Payroll Summary Report.

Step 2: – Check the date range of the Payroll Summary Report and change it according to the liability adjustment date. (If the date falls in the first quarter, the range must be 1st Jan to 31st March)

Step 3: – Write down or save amount on the Payroll item somewhere, where you require making an adjustment.

Step 4: – From the Employees menu, find the Payroll Taxes and Liabilities option and then click on ‘Adjust payroll liabilities in QuickBooks’.

Step 5: – QuickBooks generally fills today’s date by default, so you need to be sure that the data field consists of the date for which you’ve made the adjustment. The data you will put is the one when the adjustment will be effective.

Step 6: – Once you have entered the specific date on which you want the adjustment to turn active, QB will calculate the amount. The software will further check forms 940 and 941 and on the Payroll Liability Balances Report. As a user, you need to ensure that the date mentioned is the same as that of the last paycheck of the affected. Or it should be today’s date if your adjustment is likely to affect the ongoing quarter.

Step 7: Select if want a liability adjustment with the company or a specific employee. Now, you need to make a choice and decide whether the payroll liabilities in QuickBooks must have a specific employee or the organization Choose one option from Employee Adjustment or Company Adjustment accordingly.

Step 8: – Choose the Payroll Item from the Items drop-down menu available in the Taxes and Liabilities section.

Step 9: – Now, go to the accounting software’s Amount column, and write down the adjustment amount. In order to grow the owed amount, you must write a positive number in the Amount field. To reduce the owed amount, write a negative number in the Amount field. In case you have made an Employee Adjustment, the software will display a message asking you to make a paycheck.

Step 10: – Make a memo and enter the adjustment for future reference or use.

Step 11:- Now choose the Accounts Affected. Either selects the Affect liability and expense accounts option or the Do not affect accounts option, and then select OK.

Step 12:- Make use of the same steps if you need to make adjustments for any other employee. If not, simply click on OK and wait till the adjustment entry gets saved.

Step 13:- Evaluate the full Report of Payroll Summary to ensure that the totals are now accurate.

As being a Quickbooks user, it may be chances of not technically sound human being. So, if you still find difficulty to get resolved Fix Payroll Liabilities in QuickBooks, you can call directly on 18448273817, tell professionals your doubts and get the solution that can fulfill your needs.