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vas4
January 6, 2025
Question

2024 W2 is wrong

  • January 6, 2025
  • 1 reply
  • 0 views

An employee gave me the wrong banking information on one of her accounts. It was rejected but the other direct deposit went through. We issued her a check and for the rejected bank and used the DD offset to get the correct amount. I spoke with QB support and he deleted the entire direct deposit, so we created another check for the $700 that went through as a direct deposit. The employee's summary page is correct with the right numbers. Her 2024 W2 is not correct due to the $700.00. How do I fix this?

1 reply

G
GlinetteC
January 6, 2025

Hello there, vas4. I understand the challenges you're experiencing with the incorrect info on the W2. We can work together to resolve this.

 

Could you please let me know which specific box in the W2 needs to be updated? If any changes are necessary, we might need to make an adjustment.

 

I found this helpful article that explains what steps to take if you or your employee discovers an error on their W-2. Feel free to check it out for guidance: Fix an incorrect W-2 and W-3

 

Additionally, I’ve gathered some detailed articles specific to handling the W-2 form within QuickBooks that might be useful for you. These resources will provide step-by-step instructions and further insights to help you navigate and manage any related issues effectively. 

 

 

If you have any more questions or need further assistance with the W-2 issue, please don't hesitate to reach out, vas4. We're here to help ensure your W-2 forms are accurate and up-to-date.

V
vas4Author
January 6, 2025

The entire w2 is wrong

I
Ivan_G
January 6, 2025

Thanks for the clarification, vas4. 

 

We can create a payroll liability adjustment to correct the amount(s) of incorrect taxes. I'll share the steps below.

 

Here's how:

 

  1. Open your QuickBooks company file.
  2. Go to the Employees menu, then Payroll Center.
  3. Select the Adjust Payroll Liabilities option from the Pay Liabilities tab.
  4. Click the Accounts Affected button and set whether to affect your liability account or not. After that, hit OK.
  5. Input the appropriate Date and Effective Date (It should be the last day of the affected quarter or today's date if making an adjustment that affects the current quarter only.)
  6. Tick Employee and choose the worker from the dropdown field.
  7. Choose the tax item from the Item Name column.
  8. Enter the Amount as a positive number if the value needs to increase or a negative if it needs to decrease.
  9. Complete the rest of the form. Then, once everything is good, hit OK.

 

Since the procedure above is complex, it's still advisable to seek guidance from a tax or accounting professional to ensure this entry is recorded accordingly. This way, you'll retain accurate tax data in the platform.

 

You may also utilize this resource once you need to resolve denied or unsuccessful tax filing and payment: Handle payroll e-file and e-pay rejections.

 

Don't hesitate to reply to this thread if you have more concerns with your taxes in QuickBooks. We're just a response away.

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