How do I Adjust Payroll Liabilities in QuickBooks?
July 8, 2024 ⚊ 1 Min read ⚊ Views 39 ⚊ BUSINESS
QB Desktop offers a solution for fixing payroll tax mistakes: “Adjust Payroll Liabilities in QuickBooks.” This function tackles errors in employee or company-wide tax calculations. To utilize it, head to Employees > Payroll Taxes and Liabilities, then select “Adjust Payroll Liabilities.” Fill in the date and the date the adjustment takes effect. Choose whether it applies to a specific employee or the entire company. Select the exact payroll tax item and the amount needing correction. You can also specify the income subject to tax for wage base adjustments. Finally, determine how this adjustment will impact your accounting records.
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