How can I Adjust Payroll Liabilities in QuickBooks?

QuickBooks is great accounting software and small to mid-sized businesses are able to work on the software for the best of their business and easily managing their accounting tasks. Users can avail a number of benefits and at the same time keep their accounts top-notch with different features. The use of the feature to adjust payroll liabilities in QuickBooks helps the users correct their employee's year to date or quarter to date payroll info. This includes company contributions, employee additions, and deductions. When your payroll liabilities are incorrect, you can use a liability adjustment to fix them.

We have hence, brought you this blog to simplify the process to adjust payroll liabilities in QuickBooks. In case you are unsure and we too recommend that only those who are well versed with accounting must Adjust Payroll Liabilities In QuickBooks Online. Being an amateur or newbie to the world of accounting or QuickBooks reach out to QuickBooks support team on (855)-526-5749.

Why should you Adjust Payroll Liabilities In QuickBooks?

For a number of reasons for which the user has to reach out and Adjust Payroll Liabilities In QuickBooks Online. Knowing the reasons will help you to know when should you reach out to Adjust Payroll Liabilities In QuickBooks. There are different reasons for adjusting the payroll liabilities in your QuickBooks account as listed below.

If the amount of the contribution items are changed like 401(k) company match or HSA (Health Savings Account).
To do additions, YTD wages, or deductions for the employee who is not going to receive their paychecks anymore.
In case you have done the wrong set up of the tax tracking for some company file then you have to adjust it.

How to Adjust Payroll Liabilities In QuickBooks?

Moving ahead we shall be providing you with the answer on How Do I Adjust Payroll Liabilities In QuickBooks. Follow the steps listed below so as to accomplish the process effortlessly.

Search for and click on Payroll Center underneath Employees.
From under the Transactions tab hit on Liability Checks.
Using the drop-down menu next to the Date option and choose This Calendar Year.
In case of any future Paid through Dates present; remove on finding them.

We conclude our blog here with the reasons and the steps to Adjust Payroll Liabilities In QuickBooks. For any issue that might develop while accomplishing the process, it is wise that you reach out to the QB support team on (855)-526-5749.

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