Skip to main content
C
carlsonang
February 15, 2024
Question

Payroll Liabilites showing negative

  • February 15, 2024
  • 2 replies
  • 0 views

When I run my balance sheet my Payroll Liabilities are showing negative.  Under liabiilities and equity my payroll liabilities are showing negative, my child support, my income tax, my employment taxes along with my federal taxes.  Started last year and I can't figure out what is causing it.  Any insight would be great.  I tried contacting quickbooks and the guy I spoke with couldn't seem to understand it. 

2 replies

R
rvrfrf
February 15, 2024

Thanks for getting in touch with the Community, carlsonang. I appreciate your detailed information.

 

If you've voided paychecks after paying liabilities, doing so can cause negative balances. You can recreate the checks if necessary.

 

In the event an adjustment is needed, you'll want to get in touch with our Customer Care team. They'll be able to pull up your account in a secure environment, conduct further research with you, and create an investigation ticket if necessary.

 

They can be reached while you're signed in.

 

Here's how:

 

  1. Use the Help (?) icon.


     
  2. Click Contact Us.


     
  3. Enter a description of your situation in the What can we help you with? field, then hit Let's talk.


     
  4. Select Start messaging or Get a call.

 

Be sure to review their support hours so you'll know when agents are available.

 

If there's any additional questions, I'm just a post away. Have a wonderful Thursday!

C
carlsonangAuthor
February 15, 2024

I also had back federal taxes I was paying every month and I think that’s adding to the negative.  Do I need to change the category for that?

MariaSoledadG
MariaSoledadG
February 15, 2024

I have some details to provide as to why federal taxes show as negative amounts, Carlsonang.

 

Federal taxes that will show as negative amounts indicate an overpayment in the normal process. You'll want to drill down the Balance Sheet report by clicking the negative amount so you'll be able to trace and double-check that the transactions entered are correctly entered in QuickBooks. I would also suggest reaching out to your accountant to double-check the impact on each posted account used if there's a need to change a category

 

On top of that, learn how QuickBooks calculates taxes to understand the taxes reported on your employees' paychecks and payroll forms. I've added this for more details: Understand How Your Payroll Taxes Are Calculated.

 

Additionally, take a closer look at your business finances and employees' information. Go through this article for more information: Run Payroll Reports.

 

I'm always here to help if you have any other questions about federal taxes. Just add a comment below. Wishing you a good one!

C
carlsonangAuthor
February 20, 2024

This is what's going on with these.  I thought maybe they were posting to the wrong account, but it seems payroll is going in and taxes are coming out.  It just started to go negative recently.  I have attached the screenshot if anyone can help that would be greatly appreciated.

Terms & ConditionsAccessibility statement