QB and payroll liability to state

Dexter Jettster · 2005-07-26T16:13:33+00:00

If it is discovered (after numerous payroll periods) that the rate at which a company's payroll is taxed (for unemployment purposes) has been incorrect entered in QuickBooks, is it possible to simply change the rate in QB and "re-post" payroll to update this liability to the correct amount?Thank you.~d. jettster

Jul 26, 2005 22 Replies

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Keith 21 years ago

QB will actually correct on a YTD and to a lesser extent QTD basis, if the rates are setup correctly. Your problem is that you reach a quarter end with bad data. That use to be referred to as GIGO. Garbage in-Garbage Out. You may/should set up the rates correctly then recalculate the last paycheck for the quarter in question. QB actually supports different rates for different quarters depending on versions. Sounds like you fudged things up and are now blaming the SW for what you told it to do. Mistakes happen; accept the blame.

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coyboy 21 years ago

No, not a journal entry...a payroll liability adjustment. Go to your help index in Quickbooks, type in 'payroll liabilities', select 'adjusting' from the list and then display. Select 'adjusting payroll liabilities' and you will find instructions on how to handle this. You will be able to adjust by period, whether by pay period, month, quarter or whatever date range you choose and it will not require have to recreate the paychecks.

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