Determining The Source Of Payroll Liability Report Balances

Items Appears In QuickBooks Payroll Liabilities Report Balance

The QuickBooks Payroll Liabilities creates a balance report that comes from the aggregate growth reported payroll items on the transactions. These payroll items contain taxes, employee deductions and employees’ contributions that are already assigned to liability accounts.

You can determine the reason for balances on your liability balance report.

You have created payroll and balances in the payroll liability balance report.

Dates are very important to determine if a transaction is added on a liability report or not. For several entry type, the transaction dates are utilized whether a transaction will show up on a liability report, however on others, the ending period date affected is used.

You may have to expand or narrow the date range of report to determine the balance source.

For the following examples, a report dated 5/1/2018 through 7/30/2018 will include:

  • Paychecks: The date of transaction on which the paycheck is used. If a paycheck dated 5/1/2018 for the pay period 4/18 – 4/30/2018 will be included. A paycheck dated 8/1/2018 for the pay period 7/18 – 7/30/2018 will not be included.
  • Employee year-to-date (YTD): Enter the transaction on these records. It might be similar to the period ending date that’s why any record dated will also get included.
  • Payroll liability checks: The liability period-ending date is included. A liability check dated 8/15/2018 which is processed for a period ending 7/30/2018 will be added on the report. A liability check dated 5/15/2018 that paid for a period ending 4/30/2018 will not be included.
  • Prior payments: The liability period ending date is used. A payment dated before 8/15/2018 that paid for a period ending 7/30/2018 will be included in the report. A prior payment dated 5/15/2018 that paid for a period ending 4/30/2018 will not be added.
  • Liability adjustments: The mentioned date of the adjustment is included. A liability adjustment dated 8/15/2018 that was done for a period ending 7/30/2019 will be added in the report. A liability adjustment dated 5/15/2018 that done for a period ending 4/30/2018 will not be added.

Follow the below-mentioned steps to determine how liabilities were paid:

  • From the Vendors menu, go to Vendor Center
  • Select the liability Vendor from the list and then right-click on the vendor name.
  • Choose Vendor QuickReport from the shortcut menu.
  • Modify the date range for incorporating the month displaying the liability balance.
  • Identify the payment type from the Type If you find something listed in front of Liability Check, that means you paid liability incorrectly.
  • Process the liability properly from the scheduled or custom liability payments section in QuickBooks Desktop.
  • Locate the liability you paid incorrectly in the check register and then record the check number.
  • Remove the incorrect payment.
  • From the register, locate Liab Chk you created and modify the check number to the check number you recorded recently.
  • Click on Save & Close.
  • Make a Payroll Liability Balance Report to validate that the balance is now corrected.
    • To access this report:
      • From the main menu, go to Reports > Employees & Payroll > Payroll Liability Balances.
      • Select Customize Report and modify the From and To dates to show date range you wish to view.

Note: If you have paid payroll liabilities through Bill Payment or Write Checks this won’t reduce your payroll liabilities and cause a balance.

Journal entries can affect the Payroll Liability Balance Report, but it will still affect the Payroll Liabilities account. If you want to see the additional transactions on the Payroll Liabilities account go to Lists > Chart of Accounts. Find out the Payroll Liabilities account and right-click and choose QuickReport option.

Reach Us For Support

Hopefully, you find this article helpful and you have complete idea about the QuickBooks Payroll liabilities report balance. However, if you have any kind query or you are having some issues while paying the payroll liabilities then you can contact us at our toll-free QuickBooks Support Phone Number +1888-396-0208 to get instant technical support.