401K Employer overage at AXA

Nice to have you in the Community space, Alan.

You'll need to create a liability check and apply the overage or overpayment as a tax credit. This way, you can use the credit for future payments. I'll show you how.

Before we begin, I recommend speaking with your accountant to ensure that everything is recorded correctly.

When ready, you can follow these steps in setting up a tax credit:

1. Create a liability check.
2. Select the Expenses tab, and select the account where you want to apply for the credit.
3. Enter the amount of the credit as a negative figure in the Amount field.
4. Add an explanation of the transaction in the memo field.
5. Click the Recalculate button to lower the amount of the check by the amount of the credit. 

You can also check this link for the complete details: Apply your payroll liability overpayment as a credit.

In case you need to adjust your employees' year-to-date payroll information, I'm including this article for your reference: Adjust payroll liabilities in QuickBooks Desktop.

I'm all ears if you need more help managing your payrolls and QBDT. You're always welcome to tag me in your reply. Have a fantastic time and stay safe!