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January 23, 2024
Question

unemployment tax, i have a credit on my account. qb's doesn't now this. what can i do?

  • January 23, 2024
  • 1 reply
  • 0 views

unemployment tax credit balance on my account but qb's doesn't now this. QB's pays my uc tax automatically

how do i apply that credit to my next payment?

 

thx jeff

1 reply

Candice C
January 23, 2024

Hey there, @ibjcp3188

 

It's great to see a new face here in the Community! 

 

You'll have to record the state tax credit for unemployment as a prior tax payment in QuickBooks. I'll guide you through the process:

 

Note: Before doing any steps listed, please consult with your accountant to ensure that this is right for your business. 

 

  1. Go to Taxes and select Payroll tax.
  2. Scroll down to the Payment resources section.
  3. Click the Record tax payments (prior tax history) hyperlink.
  4. Select Current Year and Liability period under Record tax payments.
  5. Tap Add payment.
  6. Choose the Tax Type ( in this case, it was State Credit, so choose State).
  7. Enter the Liability period and Payment date.
  8. Create a Credit by entering a 'negative amount'.
  9. Click Submit payment.

 

Review this guide below to help you in the future: View your previously filed tax forms and payments

 

This should do the trick. I'm only a post away if you need me. Have a wonderful day!