Just editing the entire process to Adjust Payroll Liabilities in QuickBooks is quite convenient. It is important to ensure that all payroll liabilities are accurate and up-to-date in QuickBooks to avoid any discrepancies in financial records. Here is how it is done.
Open QuickBooks and go to the "Employees" menu.
Click on "Payroll Taxes and Liabilities" and then select " Adjust Payroll Liabilities in QuickBooks."
Select the appropriate liability account and the effective date for the adjustment.
Make the necessary changes to the liability information, such as the amount, account, and memo.
Click on "Accounts Affected" to view the accounts that will be impacted by the adjustment.
Once you are satisfied with the changes, click "OK" to save the adjustments.
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