Are you worried about how you can adjust QuickBooks Payroll Liabilities? Well, you do not have to anymore as the Intuit certified QuickBooks ProAdvisors of created this article to help out users who want to adjust QuickBooks Payroll Liabilities manually.

Do you know that you can call the renowned QuickBooks ProAdvisors and ask them to adjust your QB Payroll Liabilities? Yea, you read that right. Dial the toll-free QuickBooks Payroll Support Phone Number +1888-567-1159 to connect with the QuickBooks Experts. There is no wait time, and you will be directly connected with one of our QB experts. Once your account details are verified, our QB support team will create a temporary remote connection to assist you with your queries. You will always be in control of your QB and can terminate the remote connection if you feel uncomfortable sharing your screen with us.

So let’s dive right in.

What are Payroll Liabilities?

Payroll liabilities are nothing but the payments which you have borrowed but have not paid back. It usually consists of taxes that are not shared with employees like the federal and state income taxes. Do you want to learn more about payroll liabilities? Use our live QuickBooks Chat support services to contact QuickBooks Experts.

Terms associated with Payroll Liabilities

  • 401(k) contribution
  • Health Insurance Aids
  • Union levies
  • Juvenile support payments

How to make a payroll liability adjustment?

Step 1: Find payroll discrepancies

You will get the data that you require to make the adjustment.

Run a Payroll Checkup

  • This is a tool that comes built-in in QuickBooks and helps you to find problems that affect your liabilities.
  • Make sure that your current setup for payroll data is not missing any info and discrepancies.
  • Check your employee’s records, payroll item setup, and wage and tax amounts.
  • Categorize tax amount inconsistencies on flat-rate tax.
  • You will also get suggestions on how to fix the problem from this tool.
  • Now, choose to run a Payroll Summary report for the quarter you are looking to adjust.

Note: Keep a record of the Amount on the Payroll Item or items that you want to modify

Step 2: Adjust your payroll liabilities

  • Head to the Employees menu in your QB.
  • Now, go to Payroll Taxes and Liabilities and then choose Adjust Payroll Liabilities option.
  • Make sure that you utilize the exact Date as the last paycheck of the affected quarter. Utilize the current Date if you’re modifying the current quarter Payroll liabilities.
  • Be extra cautious as the effective Date is utilized to compute amounts on the 940 & 941 forms and Payroll Liability Balances Report.

Are you making the adjustment for a company or an employee?

  • Choose Employee Adjustment option in the case the item which you want to adjust is company-paid item. It will update the YTD data shown on the employee W-2 form.
  • Choose Company Adjustment if you don’t want the balance to be used in the Payroll Liabilities Balances Report.
  • Select the employee.

Complete the Taxes and Liabilities fields.

  • Choose the Item Name that you are looking to adjust.
  • Type the Amount of adjustment in the respective field.
  • Utilize a positive number for increasing or decreasing the Amount.
  • In most cases, you will not need the Wage Base, not even when you try to override a tax amount on a paycheck.
  • Make sure that you only utilize the Income Subject to Tax when making a wage base modification.
  • However, you are free to use the Memo field for entering a note about the adjustment for future reference.

Choose Accounts Affected and then click on OK.

  • Choose Do not affect accounts to make sure that the balances are unaffected for liability & expense accounts.
  • Any adjustments Payroll Liabilities will only affect the year-to-date totals on the payroll reports.
  • Choose Affect liability & expense accounts if you want to enter an adjusting transaction in the liability and expense accounts.

Repeat the process for all the other employees if you need to, and click on the OK button.

Get Help for Payroll liabilities Adjustment Issues & Problem Intuit QB

We hope that you found this article helpful in adjusting the Payroll Liabilities manually on your QuickBooks. If you have any doubts or questions regarding the process, then do not hesitate to dial the toll-free QuickBooks Support Phone Number +1888-567-1159. Our support line numbers are working 24 hours and seven days of the week so that you never get stuck while using any version of QuickBooks (desktop, online).

You can also get in touch with the reliable QuickBooks Tech Support Department by using the live chat icon. Click on the icon to benefit from the QuickBooks Live Chat support services. Fill the form with your information and click on submit. Our team will get in touch with you as soon as possible.