how to pay bonuses quickbooks 2018 desktop

Now let’s move on to making changes to the payroll tax liabilities in QuickBooks, but before that ensure you have the latest payroll tax table updates installed.

When you require to make changes to 401(k) Company match or Health Savings Account (HSA) which falls under the company contribution items.When an employee is no more receiving paychecks, you might need to make changes to the deductions, additions, or YTD wages of the employee.In case, you have accidentally set up incorrect tax tracking type for health insurance company contribution.If you have any Questions or Need Help Adjusting Payroll Liabilities, then Connect with our Payroll Tech Experts at (844)-888-4666 Why you Need to Use Payroll Liability Adjustment?įollowing are the scenarios where you will require to make changes to your payroll liabilities in QuickBooks: This article clarifies every step on how to adjust payroll liabilities in QuickBooks and getting it as a credit to payroll tax liabilities. If you are an employer who has overpaid payroll tax liabilities using QuickBooks, then you might want to get the overpaid amount credited as your payroll tax liabilities and get this over payment adjusted in QuickBooks Company file. Nearly 30% of small business owner’s overpay their taxes every year to the state and federal tax authorities either because of the incorrect tax payment calculation or because of the fear of getting penalties from the IRS.

How to pay bonuses quickbooks 2018 desktop