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marlenad-coreres
October 22, 2024
Question

Can I resolve overpaid payroll taxes?

  • October 22, 2024
  • 1 reply
  • 0 views
I had to reverse and re-enter a paycheque, resulting in QBO showing payroll taxes as overpaid. How can I change the amount to pay on the current period and resolve the overpayment in the Payroll Tax Centre?

1 reply

A
Amanda-B
October 22, 2024

Hello, marlenad-coreres.

 

Thanks for reaching out to the Community for support. I'd be happy to help.

 

The Canada Revenue Agency will provide you with a credit notice, when an overpayment has occurred. QuickBooks Online Payroll provides the ability to resolve payroll tax overpayments, ensuring your associated reports and tax forms remain accurate.


Follow these steps to resolve the overpayment in QuickBooks;

 

1. From the left menu, go to Taxes and select Payroll tax
2. Select Pay in the Actions column
3. Review the breakdown in the Federal Taxes section and hit Record payment 
Note; Overpayments appear as negative amounts.

 

Here's a guide for reference.

 

If you have any other questions regarding the process, I recommend reaching out to an accounting professional for thier expert advice. 

 

Feel free to reach back out if you have any other questions. 

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