Payroll Tax Question.. PLEASE HELP!
I'm a first-time small business owner in Texas who made a mistake with payroll tax out of my ignorance and seek advice on how to fix the problem.
Here's what happened. On January 1, 2022, I started our QuickBooks over from scratch and moved it from the desktop to the online version. This process took a long time. During this process, I used the free intuit paycheck calculator to calculate the cost of SS, FED, and Med tax for two of my employees, and then I would write a check to my employees for the Net pay. In my head, I thought Quickbooks would see the check/net pay and work the math backward to figure up the gross pay plus taxes. I know this was foolish thinking, and I realize that now, i' not experienced in QuickBooks.
For Intuit to fix the problem in my QuickBooks, I need to take all the payroll checks for the last 10 months and work the math backward from net pay to gross pay, including all the taxes.
Is there an easy way to do this with a spreadsheet? If so, please give me some formula examples.
Any recommendations would be greatly appreciated.
Thank you.
