I know a way on how you can zero out the amount of the payroll liability account, @mlanclos.
I'd be happy to guide you on how so you can achieve your goal.
To start, we can disable the payroll schedule for the Workers Compensation account. Here's how:
- In your QuickBooks Desktop (QBDT) company, go to the Employees tab. Then, select Payroll Center.
- Next, click the Pay Liabilities section.
- From there, select Change Payment Method under the Other Activities drop-down list.
- Then, in the QuickBooks Payroll Setup window, click Benefit and Other Payments.
- Choose Schedule Payments, and double-click the Worker's comp to edit.
- Under Payment Frequency, pick the I don't need a regular payment schedule for this item option.
- Once done, select Finish twice.
When finished, let's now run the Payroll Liability Balance report and set the date to the whole year. From there, check to see if the Workers Compensation liability account still has a balance.
If yes, you can make payroll liability adjustments. I'll guide you on how:
- In your QBDT program, navigate to the Help menu.
- Next, choose About QuickBooks Desktop and press Ctrl+Alt+Y keys on your keyboard.
- Set the date range and then, click the Next button until you see the Create Payments option.
- From there, select Worker's comp under the Item Name column.
- Then, in the Prior Payments of Taxes and Liabilities window, click the Accounts Affected button.
- Tick the radio button for the Do not affect accounts option and then, select OK.
- Click Done and then, select Finish.
For your reference about the process, please check this article: Liabilities were paid, but never entered into QuickBooks Desktop.
Also, running other payroll reports in QBDT is easy. Once you open one, you can also download and print the data to have a handy copy of it.
I'm just around the corner if you have any other payroll concerns in QBDT. Simply leave a reply below and I'll circle back to help you out. Keep safe always and have a great day ahead.
