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November 25, 2021
Question

My payroll tax account automatically occurs interest. It never use to and I want to turn off that feature. How can I do this?

  • November 25, 2021
  • 1 reply
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I print the PD7A for the month and file but when I go into pay the amount later the amount owing has changed because of interest.

1 reply

LeithG
November 25, 2021

Hi Jogenn03

 

QBO doesn't really accrue interest per se; if you're seeing automatic transactions adding value to your account you may want to look under the Gear Icon-> Recurring Transactions to see if there's something setup to do that for you.  Alternatively, if you're keeping the funds in a savings account, depending on the balance being held in that account, you may actually be earning interest from the bank which wouldn't increase the value payable to the government but would just be 'extra' money sitting in the account after you paid the government.

 

Hope this helps!