As a business owner, you usually pay your federal withholding, social security and Medicare taxes from the constant time to IRS. To constantly manage your payment we need to set up payroll liabilities in QuickBooks.
You can set a timetable for the financial liabilities which are on your representative’s paychecks as well as consistently paid in QuickBooks Desktop. Before you pay the payroll taxes as well as other liabilities, you need to have a record of payee associated with each liability. Basically, the payee is the tax agencies, but they can be a bank or insurance company as well.
Steps to set-up payroll liabilities
Follow the steps mentioned below to set up payroll liabilities-
Step 1: Select the Employees in the Payroll Center.
Step 2: Choose the Schedule Payments from the section.
Step 3: Choose the tax liability which you want to edit or schedule a payment for.
Step 4: Click on Edit, so that you could edit the pieces of information.
Step 5: Enter the appropriate payment information.
Step 6: Click on Finish in the Finish Later Section.
We hope that the information we provided was helpful and if you still have any query related set up payroll liabilities in quickbooks then feel free to seek advice from our QuickBooks Payroll Customer Support team.
You might also read: