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How Do I Clear Payroll Liabilities in Quickbooks
There could be erroneous entries in the QuickBooks Payroll solution. Sometimes, employers could want to edit specific employee details as well. When you want to adjust an incorrect amount in payroll liabilities, go through the steps below. You may also contact our QuickBooks support team at Contact Payroll.
Incorrect Payroll Liabilities in QuickBooks & Getting Help from QuickBooks Support
An incorrect amount in payroll liabilities could prove costly for the business. The reasons could be:
1) An existing liability check could result in a missing amount in the liability section.
2) The company liability account could be inactive.
3) Updated company files from a previous version of QuickBooks to the latest one.
You may contact the QuickBooks Support team of Contact Payroll.
Easy Steps to Clear Incorrect Amount in Payroll Liabilities
1) Access the “Pay Liabilities” tab.
2) At the “Payment History” screen, click on “Transactions.”
3) Select “Delete” on the top of the section and click “OK” to remove the payment.
Once complete, download the updated payroll tax table. Follow the steps below:
1) Go to the “Employees” section and click on “Get Payroll Updates.”
2) Select the “Download Entire Update” checkbox.
3) Click “Download Latest Update.”
4) Wait for the confirmation screen.
Please go again to the “Pay Liabilities” section. Now, enter a liability payment for Simple IRA on the “Pay Taxes and Other Liabilities” screen. Please follow these steps:
1) Access the following section “Simple form IRA” inside the “Pay Taxes and Liabilities” screen.
2) Tap on the “View/Pay” button.
3) Review the records displaying on the “Liability Payment” section. You may also make necessary changes.
4) Now tap on "Close" to complete the entire process.
QuickBooks Payroll is a super-efficient accounting tool. The steps mentioned above should resolve the incorrect amount in payroll liabilities. In case the issue persists, you can reach out to the QuickBooks support expert at Contact Payroll.