Know How to Delete or Remove a Scheduled Payroll Liability in QuickBooks?

by James Antonio

A payroll liability is an amount owed by the business to its employee. It can be wages, salaries, and other kinds of payments. It is treated as a liability in the business’s books of accounts because it is not yet paid to the employee. Payroll needs to be very carefully set up in QuickBooks, even a small unknowing mistake can cause a lot of hassles like incorrect liability amount, or payroll liability calculated by entering incorrect working hours or earning types.

For fixing these types of errors you can opt for deleting or removing the payroll liabilities from QuickBooks and start over. You should always take care of the below prerequisites before deleting or removing the payroll liabilities from the QuickBooks:

  1. You need to make sure that you have full active QuickBooks payroll subscription.
  2. Your QuickBooks payroll tax tables are updated as per the latest rates.
  3. Your QuickBooks is updated to the latest version.
  4. Earlier created tax liabilities will not be deleted or changed from the payroll schedule.
  5. If you are enabling the inactive mode for payroll tax liability, it will not clear the taxes, you will have to define the tax amount for the payroll again.
Delete or Remove a Scheduled Payroll Liability in QuickBooks
Delete or Remove a Scheduled Payroll Liability in QuickBooks

In this article we will discuss step by step process of deleting or removing your payroll tax liabilities, so let us get started.

Steps for Deleting or Removing a Scheduled Payroll Liability in QuickBooks

You can follow the below steps to delete or remove a scheduled payroll liability in QuickBooks:

Step 1. First of all, click open the QuickBooks desktop and log in with your credentials, after that click on the Employees tab.

Step 2. From the Employees tab click on the payroll centre and click on the payroll liabilities tab.

Step 3. Now go to the Other Activities drop-down list, click on ‘change payment method‘.

Step 4. Now choose ‘Benefit and Other payment‘ from the QuickBooks payroll setup window.

Step 5. Now double click on the payroll item to edit under Schedule payments.

Step 6. Now click on the ‘I don’t need a regular payment schedule for this item‘ option and click on finish and then finish again.

Steps for Creating a Scheduled Payroll Liability in QuickBooks

If you want to create a new scheduled payroll liability, you can follow the below easy steps:

Step 1. Click on the Payment activities drop-down menu under the ‘payroll centre‘ in the QuickBooks application.

Step 2. After that, type in the amount for the complete liability period and click twice on the payroll item and enter the adjustment figure. It should be negatively numbered.

Step 3. Now choose ‘Do not affect accounts‘ under the Account affected option and click on ‘Ok and edit next payroll item‘ to finish the procedure.

You should be aware that deleting a payroll liability would be a permanent action and can’t be reversed. Now when we are almost well versed with the process steps, then let us move ahead and read some frequently asked questions from the users’ end, which will give us further insight over the topic and related issues.


How can I Reconcile a Payroll Liability in QuickBooks?

You need to first print out your payroll register and match each employee’s hours to the pay register; you need to verify that pay rates for salaries and wages are correct. You need to make sure that you have taken out all the deductions from the paychecks and after that make entries in general ledger accounting to your payroll register.

What are the Steps to Adjust the Payroll withholding in QuickBooks?

First click on the Employees tab from the payroll tab on the left panel, after that click on the employee’s name and choose view paycheck list. After that click on the Net pay link and click the edit link located at the bottom. Now click the employee taxes drop-down arrow to expand and edit the federal income tax amount and finally click on OK.

Can you List Down the steps to Correct the Liability Checks in QuickBooks for Adjusting Negative Payroll Liability?

At the start, click on Banking and choose Use Register. Now select the register that you use for payroll and click on Ok. After that, right-click on payroll liability check and select Edit liability check. Now go to Payroll liabilities and update it to match your changes. After that, click on save and close and then Yes to complete the process.

How can I clear the Current Liabilities in QuickBooks?

For deleting old liabilities account, first, you need to navigate to the company menu and click on Make general journal entries. Now fill out the fields and ensure that the debit and credit sides match with each other. After that click on save and close.

How can I Remove an old Payroll Liability from QuickBooks?

First, click open the QuickBooks and go to Employees > choose Payroll centre and click on payroll liabilities. Now choose your old payroll liability to underpay taxes and other liabilities. After that select view/pay. Now enter the appropriate liability date and click on save and close.

What are the Steps to Cancel a Scheduled Payroll Run in QuickBooks?

First, go to the Employees menu and click on the payroll centre, then go to the Pay employees tab. Now choose the scheduled payroll run that you wish to delete under ‘create paychecks table’. Now from the scheduled payroll dropdown, click on Delete schedule. After that click on OK to finalize the process.

What do you mean by Scheduled and Unscheduled Payroll in QuickBooks?

A scheduled payroll run is the one that has been set up in your business’ calendar as per your payroll cycle. An unscheduled payroll run is a special run that is not actually set up in your company’s payroll cycle, for example, bonus payroll, or correction run or fix a check, etc.

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Frequently Asked Questions

 
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You can export a Chart of Accounts, Customers, Items, and all the available transactions from QuickBooks Desktop.


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To use the service, you have to open both the software QuickBooks and Dancing Numbers on your system. To import the data, you have to update the Dancing Numbers file and then map the fields and import it.


How can I Delete in Dancing Numbers?

In the Delete process, select the file, lists, or transactions you want to delete, then apply the filters on the file and then click on the Delete option.


How can I import Credit Card charges into QuickBooks Desktop?

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Dancing Numbers is SaaS-based software that is easy to integrate with any QuickBooks account. With the help of this software, you can import, export, as well as erase lists and transactions from the Company files. Also, you can simplify and automate the process using Dancing Numbers which will help in saving time and increasing efficiency and productivity. Just fill in the data in the relevant fields and apply the appropriate features and it’s done.

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Why should do you change the Employee status instead of deleting them on QuickBooks?

If you are unable to see the option to terminate an employee on your list of active employees on the company payroll, this mostly implies that they have some history. Thus, if you change the employee status instead of deleting it on QuickBooks, the profile and pay records remain in your accounting database without any data loss in your tax payments.


Is it possible to use the Direct Connect option to sync bank transactions and other such details between Bank of America and QuickBooks?

Yes, absolutely. You can use the Direct Connect Option by enrolling for the Direct Connect service which will allow you access to the small business online banking option at bankofamerica.com. This feature allows you to share bills, payments, information, and much more.


Why should do you change the Employee status instead of deleting them on QuickBooks?

If you are unable to see the option to terminate an employee on your list of active employees on the company payroll, this mostly implies that they have some history. Thus, if you change the employee status instead of deleting it on QuickBooks, the profile and pay records remain in your accounting database without any data loss in your tax payments.


What are the various kinds of accounts you could access in QuickBooks?

QuickBooks allows you to access almost all types of accounts, including but not limited to savings account, checking account, credit card accounts, and money market accounts.

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Bulk import, export, and deletion can be performed with simply one-click. A simplified process ensures that you will be able to focus on the core work.

Worried about losing time with an error prone software? Our error free add-on enables you to focus on your work and boost productivity.

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