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September 13, 2024
Question

I ran payroll checks late and i do not think the taxes due are correct

  • September 13, 2024
  • 2 replies
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2 replies

FishingForAnswers
September 13, 2024

@mightymicks2244-  Do you want to expand on that, or...?

September 13, 2024

Hi there, mightymicks. I’m here to help you verify your payroll settings to ensure your taxes are accurate.

 

QuickBooks calculates your paychecks based on the payroll information you've entered. If you believe your paycheck taxes are incorrect, it might be due to one of the following reasons:

 

  • Payroll item or employee setup issues
  • Wage limits reached
  • Incorrect tax or SUI rates
  • Incorrect Year-to-Date (YTD) amounts (QuickBooks Online Payroll)
  • Outdated software or tax table (QuickBooks Desktop Payroll)

 

To resolve any discrepancies, follow these steps to review and correct your payroll settings.

 

Here's how:

 

  1. On the left panel, click Payroll.
  2. Select Employees, then choose the employee to edit.
  3. Under Tax withholdings, select Start or Edit.
  4. Review the federal and state withholding, then update if necessary.
  5. Select Save.

 

In addition, to ensure your SUI tax rates are correct, follow the detailed steps provided in this article under the SUI Tax section: Troubleshoot paychecks calculating incorrectly.
 

Also, you can run a tax and wage summary report for you to ensure that the deductions and contributions are correct.

 

If you missed a payroll from a previous pay date and created it after processing the current period, you'll notice that the previous YTD amounts are higher than those on the current. This is normal and does not indicate an error. This will always reflect correctly on the most recent paycheck created, regardless of the pay date.

 

Furthermore, you can run a payroll report for you to get a closer look about your business finances in QBO.

 

If you have any further concerns or need additional assistance with your payroll checks, please comment on this post. I’m here to help.