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Zero out the payroll liabilities report

If you have overpaid your payroll liabilities in prior quarters (due to rounding errors), you may have a small negative balance on your payroll liabilities report. If the amount is less than $1.00, you may want to adjust your payroll liabilities so that the payroll liabilities report shows a zero balance.

To zero out the payroll liabilities report

  1. Go to the Employees menu, choose Payroll Taxes and Liabilities, and then click Adjust Payroll Liabilities. Shortcut

  2. Change the Effective Date field to a date in the previous period.

  3. Select Company.

  4. In the Item Name field, choose the payroll item.

  5. In the Amount field, enter a negative number (the amount of the discrepancy).

  6. (Optional) In the Memo field, enter a note to yourself about the adjustment.

    The note will appear on any detail payroll reports that include this transaction.

  7. Click OK.

If the amount you overpaid is significant, you can get a refund from the government and enter it in QuickBooks.

KB ID# H_PAY_ZERO_PAY_LIABS_RPT
9/25/2016 10:20:49 PM
PPRDQSSWS400 9138 Pro 2017 eefcbe