Answer: Adjusting payroll liabilities is necessary to avoid errors and complications. It can be done easily and the process is not at all difficult. All you need to do is follow the steps carefully. Once done, you can be sure that the problem will be resolved.
These steps can be implemented for current transactions. You can adjust payroll liabilities:
• Select Taxes and under it choose Payroll Tax.
• Select Enter prior tax history
• Now, click on the Add Payment tab.
• Now, input the required information in the Create Prior Tax Payment fields.
When this problem occurs you will find the Payroll Liability Balance Report in negative balance. Once the adjustment is done the Report will show positive balance.
To make the adjustments do the following steps. To fix the Payroll Liability Balance Report and the Liability Check:
• Navigate to the payroll Bank Register. Find the liability check that you have created for the old payroll items
• Right click and then select Edit Liability Check.
• Select the Payroll Liabilities tab. Enter new payroll item and remove the old payroll item.
• Now select Save and then choose Close.
• Click yes to the message to record changes.
QuickBooks allows you to adjust more than one payroll liability at one time. The important thing is to know the time for which you want to adjust the liability.
• Go to the payroll items column.
• Select the payroll item.
• You can choose only one adjustment date.
• However, you can adjust by choosing more than one date. For that select different dates for different transactions.
• When done, select the right appropriate reports. This will help to ensure that the adjustments are done correctly.
To learn more contact QuickBooks payroll support team for resolving more queries.