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J
jimh3
January 24, 2020
Question

FUTA

  • January 24, 2020
  • 1 reply
  • 0 views

I have an employee/officer that is exempt from MN SUI. Payroll is calculating his FUTA at 6% which is correct. When I filed and created the payment for the 940 the amount was correct after the FUTA reduction. I still have two reminders in Payroll Taxes to pay FUTA. My tax liability report shows I still owe FUTA. The payroll system generated an increase and a decrease for the payment amount in my FUTA Liabilities gl account. I am able to journal entry my gl acount to zero it but how can I get the Pay Taxes notifications and the Tax Liability in payroll to correct?

1 reply

G
GlinetteC
January 24, 2020

Hi there, jimh3.

 

We can record prior tax payments in Quickbooks Online so the tax notification is removed. Let me show you how:

  1. From the left panel, select the Taxes tab then Payroll Settings.
  2. Click on the Enter Prior Tax History link,
  3. Choose Add Payment.
  4. Select  tax type and liability period (the period that the taxes accrued) then click enter
     Payment due
    Check Number (optional)
    Note (optional)
    Tax item amounts.
  5. Once done, click OK.

 

For more information, you can check this article on how to record a prior tax payment in QBO: Recording prior tax payments

 

If you have any other questions with the process, 

J
jimh3Author
January 24, 2020

I would guess this would affect the general ledger as well.

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