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Paakaa10
April 15, 2021
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QuickBooks Enhanced Payroll: Incorrect Balance Populated to Pay Liabilities Tab

  • April 15, 2021
  • 1 reply
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Hello,

 

We use QuickBooks Desktop Pro 2019 with QuickBooks Enhanced Payroll. I just ran our quarterly Unemployment Insurance - Quarterly Contribution Report Worksheet for our state and the form automatically generated by QuickBooks showed a contribution due of $102.63 based on our wages and contribution rate.

 

This amount was validated as correct on our state website when I submitted the form data and was given on the payment page to make that contribution.

 

However, the Pay Liabilities tab of our Payroll Center in QuickBooks Desktop rounded up to $102.64, so now I show a $0.01 balance for this liability which is incorrect.

 

What is the best way to clear out this incorrect liability balance amount?

 

Thank you!

Best answer by JenoP

I'll help you clear out the liability in your Payroll Center, Paakaa10.

 

You can create a prior payment entry to remove the remaining balance for state unemployment. Here's how:

 

  1. Go to the Help menu, then select About QuickBooks.
  2. Press Ctrl + Alt + Y or Ctrl + Shift + Y to open the Setup YTD Amounts window.
  3. Select Next until you reach the Enter prior payments section.
  4. Click Create Payment.
  5. Change the Payment Date and For Period Ending date to the end of the quarter. 
  6. Go to the Item Name column and look for the state unemployment company.
  7. Enter .01 in the Amount column, then add a Memo if you want to.
  8. Click Accounts Affected and select Affect liability accounts but not the bank account.
  9. Select OK. 

 

Once done, go back to the Payroll Center to check if the amount is no longer there. Here's an article about this feature for more details: Enter Historical Tax Payments in Desktop payroll.

 

Alternatively, you can also record a negative payroll liability adjustment to clear it out. Follow the steps in this article for guidance: Adjust Payroll Liabilities in QuickBooks Desktop. 

 

You'll also want to check out this article on how to see all the remaining balances you have in QuickBooks: Run Payroll Liability Balances Report. 

 

As always, please don't hesitate to reach out to us again or reply to me if you need anything else. 

1 reply

JenoP
JenoPAnswer
April 15, 2021

I'll help you clear out the liability in your Payroll Center, Paakaa10.

 

You can create a prior payment entry to remove the remaining balance for state unemployment. Here's how:

 

  1. Go to the Help menu, then select About QuickBooks.
  2. Press Ctrl + Alt + Y or Ctrl + Shift + Y to open the Setup YTD Amounts window.
  3. Select Next until you reach the Enter prior payments section.
  4. Click Create Payment.
  5. Change the Payment Date and For Period Ending date to the end of the quarter. 
  6. Go to the Item Name column and look for the state unemployment company.
  7. Enter .01 in the Amount column, then add a Memo if you want to.
  8. Click Accounts Affected and select Affect liability accounts but not the bank account.
  9. Select OK. 

 

Once done, go back to the Payroll Center to check if the amount is no longer there. Here's an article about this feature for more details: Enter Historical Tax Payments in Desktop payroll.

 

Alternatively, you can also record a negative payroll liability adjustment to clear it out. Follow the steps in this article for guidance: Adjust Payroll Liabilities in QuickBooks Desktop. 

 

You'll also want to check out this article on how to see all the remaining balances you have in QuickBooks: Run Payroll Liability Balances Report. 

 

As always, please don't hesitate to reach out to us again or reply to me if you need anything else. 

P
Paakaa10Author
April 16, 2021

That did the trick; thank you for your help!

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