Entering old 941 underwithholdings

You don't need to use debit and credit to record your payments in Journal Entry, chasingcheddar. I'll share more information on how you can record your previous payroll data.

When processing payments for prior quarters, you can utilize the backdoor method. However, it is advisable to consult your accountant during this procedure to ensure the accuracy of your financial records.

Here's how:

1. From the Help menu, choose About QuickBooks.
2. Press Ctrl + Alt + Y or Ctrl + Shift + Y to open the Setup YTD Amounts window.
3. Select Next until you reach the Enter Prior Payments section.
4. In the Enter Prior Payments window, select Create Payment to enter all prior payroll tax and non-tax payroll liability payments you have made during the current or previous years.
5. Enter the Payment Date and For Period Ending date accordingly (in many cases these dates will be the same). On the other hand, please proceed if there's already an item in the given field.
6. In the Taxes and Liabilities field, choose the payroll tax item that you already paid and want to record in QuickBooks Desktop, then enter the amount. You can add a memo to remind you what the payment is for.
7. Select the Accounts Affected... button.
8. You'll be prompted if you want to affect your liability account balances. You can choose either Do not affect accounts, Affect liability accounts but not the bank account, or Affect liability and bank accounts.
9. Once done, click Next Payment. Follow the on-screen process, then select Done.
10. Select Finish to close the window.

For more information about recording your previous tax payments, please refer to this article: Enter historical tax payments in Desktop payroll.

Additionally, you can use this article if you want to add paychecks, tax payments, and non-tax payments you already paid this year: Add payroll info to QuickBooks Desktop Payroll when you already paid employees this year.

Please feel free to let us know if you need further assistance when recording the previous 941 payments, chasingcheddar. We'll be here to help you out.