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R
RuthP
October 3, 2024
Question

Payroll liabilities not correct

  • October 3, 2024
  • 1 reply
  • 0 views

I am using QB desktop contractor 2024. Each week after I run payroll, I go to pay liabilities and create the Federal (withholding, SS & Med) and state liability checks. I just created the 941 for the 3rd quarter and see that 2 of the liability amounts do not match our liability payments during the month of August. They do equal out, but am wondering why our liability payment would be different than the actual liability showing in the report when it is all generated by QB. I also had an issue with the last week's payroll in September with the liability payment being off two cents for SS and one cent for our 401k payment. At the time the liability checks are created there is a 0 balance afterwards. How can an overpayment show up a few days later? This is not a rounding issue as the balance is 0 immediately after the liability check is created.

I was able to delete the 401k check and recreate it which took care of the problem as it has to match the deductions of our employees, but why was it wrong in the first place?

The federal payment had been made already so we now have a credit on the quarterly 941. I understand we are only talking cents, but to create a liability payment for the amount due and then have a balance a couple days later before the next payroll is disconcerting.

Thanks for any insight.

Ruth

1 reply

R
ReymondO
October 3, 2024

Hi there, @RuthP. I'm here to share information on the possible reason why you're liability amounts don't match with your liability payments.

 

It's possible that there's a payroll transaction that causing this discrepancy. I suggest reviewing your Payroll Liability Balances from the previous months and check if the amounts to be paid are correct.

 

Here's how:

 

  1. Go to the Employees menu and select Employee Center.
  2. Click Payroll, then go the Pay Liabilities section.
  3. Under the Reports section, click Payroll Liability Balances.

 

Review the months and check for the amounts. If you see negative amounts, this means that there's an overpayment that's causing the discrepancies. You double-click it to view the transaction and make any necessary correction. 

 

To check if your payroll liabilities are updated, you can run the Payroll Summary report to see if everything is correct.

 

Please let me know if you have additional questions about correcting the discrepancies in your payroll liabilities and payments. I'll be here to help.

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