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vmbrunson
June 24, 2020
Question

Partial Payroll Tax Payment through QB Online

  • June 24, 2020
  • 1 reply
  • 0 views

PPP now allows employers to defer the payment of employer FICA (SS). How would we be able to accomplish this in QB online, paying the other components of the payroll tax electronically through QB online? 

The unpaid liability would still need to be shown as unpaid for payment at a later date. 

Thank you in advance for your assistance. 

 

1 reply

J
JamesM
June 24, 2020

Hello vmbrunson,

 

I'm happy to learn you're using QuickBooks to streamline your business and get ahead with your wok. I'd be glad to steer you in the right direction. 

 

Making sure your transactions are recorded  the right way is a good exercise for preventing errors in your books. I recommend contacting an accounting professional to get more info on this. If you're not in contact with one, I encourage you to search for one on our website using this link here. Doing this will help prevent any discrepancies on your account. I'll also leave this post here in the Community so that accounting professionals can chime in on this. 

 

 In the meantime, feel free to ask other questions by leaving a comment below. I'm here to help. :) 

J
jblad
January 7, 2021

Yes, record properly. But no instructions we given to help this person. 

If the government is allowing deferrals or partial payments how are you able to apply them towards the amount owed?

Rebecca R
Rebecca R
January 7, 2021

Hello jblad,

 

Thank you for joining in on this thread and bringing it to my attention. Entering a partial payment towards your payroll liabilities is an important function and I want to assure you that there's a way to do so using QuickBooks Online. The process may seem a little counterintuitive, but it'll help you to accomplish the task at hand so that you still see a balance owing for the current period. Let me go over this with you.

 

To record a partial payment towards your payroll taxes, please follow these steps:

 

  1. Hover over the Taxes tab on the left and choose Payroll Tax.
  2. Choose to Enter prior tax history.
  3. Subtract the amount of the partial payment that you'd like to make from the total payment owing and record the difference as a historical payment. For example, if your total payment due is $100 but you're going to make a partial payment of $70, record a historical payment of $30. To do this hit Add Payment.
  4. Once you've entered the relevant details, select OK. 
  5. Navigate back to the Payroll Tax centre and choose to Pay Taxes. You should see the partial payment amount as the amount owing.
  6. Hit Record Payment. 
  7. Navigate back to the Payroll Tax Centre once again and View Tax Payments you have made.
  8. Locate the historical payment you just recorded and select the date to view it.
  9. Hit Delete to remove it. 
  10. Navigate back to the Pay Taxes section of the Payroll Tax Centre to see the remainder waiting as a payment to be made.

 

Let me know if you have any follow-up questions or if there's anything else I can do to support you. 

 

Have a fantastic day!

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