QuickBooks Payroll Liabilities Not Showing

What are QuickBooks Payroll Liabilities?

When any organization pays a certain amount on behalf of an employee, that amount is known as Payroll Liabilities. It also consists of taxes such as union dues, withheld taxes, 401(k) contributions, health insurance premiums, and child support. This particular amount is later deducted from the salary of an employee, which is provided in advance.

Your business usually has the following kinds of payroll duties when you handle payroll:

Employee Compensation: Payroll liabilities are the total earnings owed to workers and independent contractors, including benefits and compensation for the work performed.

Amounts Withheld: Revenue taxes withheld from employee paychecks are required to be submitted to the Internal Revenue Service (IRS) and other tax-related agencies. Payroll obligations are sums withheld and not yet transmitted. It is crucial to remember that deducting a specific amount from an employee’s pay as a tax is not considered a payroll expense by the firm.

Payroll Costs: A portion of the payroll obligations are not deducted from employee compensation. For example, employers are responsible for processing Social Security and Medicare taxes, which are included in payroll expenses, while processing payroll.

Pay Scheduled Liabilities area under the Payroll tab of the employee center occasionally shows payroll liabilities even though there are actual payroll liabilities. It keeps you from keeping track of your debts and from paying them on time as a result. Therefore, they must show up as soon as feasible.

What are the types of Payroll Liabilities?

Payroll obligations are produced by taxes, voluntary deductions, and employee remuneration. Employers also have payroll obligations for additional costs like the Federal Insurance Contribution Act (FICA) tax.

Employee Compensation

Payroll liabilities are the gross wages owed to independent contractors and employees. Liability for a certain pay period can be determined in a few different methods:

• Salaried workers: Bonuses and other incentive compensation in addition to the share of the yearly wage that is due for the pay period.
• Hourly workers: This liability is calculated by multiplying the total number of hours worked (which also includes overtime hours) by the hourly rate of pay. Also, it is important to know that hourly workers may be eligible for incentive pay.
• Freelancers or Independent Contractors: Payments due to independent contractors (freelancers) may be determined by a flat charge or an hourly rate agreement.

Independent contractors get their salary without having taxes deducted from it. On the other hand, you must withhold taxes from employee paychecks in accordance with the data the employee submits on Form W-4.

Payroll taxes and insurance

Be it income tax, medicare tax liabilities, Social Security tax liabilities, taxes have been withheld from payments. The employer bears the amount of a few of these expenses:

Withholdings from federal income taxes: The annual income of the worker along with the filing status (married, single, etc.) helps in determining the amounts that have been withheld.

FICA taxes: The levies are gathered to pay for Medicare and Social Security. Employers and employees are paid a 7.65% FICA tax rate on the gross pay of the employee for the tax year 2020 and the taxes of the employee were deducted from their gross compensation. People who are self-employed are required to deduct half of the self-employment taxes from their tax return and then pay the 15.3% employer and worker portions.

State income taxes: The requirements for withholding and paying state income taxes vary from state to state, and some states do not levy state income taxes at all.

State Unemployment Tax Act (SUTA) and Federal Unemployment Tax Act (FUTA): Both the Federal Unemployment Tax Act (FUTA) and the State Unemployment Tax Act (SUTA) were enacted to give people who lose their jobs a temporary source of income, usually in cases when they are not at fault. Employers are the only ones who pay FUTA taxes, which are paid by businesses through a combined federal-state program for unemployment insurance.

Insurance for workers’ compensation: Depending on state regulations, businesses may be required to obtain workers’ compensation insurance. In the event that an employee sustains an injury at work, their insurance coverage covers their medical expenses and lost income. Employers are responsible for paying workers’ compensation premiums, which are based on the industry and the number of employees.

Salary garnishments: A garnishment is an order from a court that requires money to be withheld from an employee’s paycheck and sent to a third party. Offering benefit programs to staff members will help you retain them as your company expands. Payroll funds can be voluntarily withheld by employees to support benefit plans.

Voluntary deductions

By using payroll withholding, many benefit programs such as retirement plan contributions and health insurance premiums are funded. The cost share that is being incurred by the employer is known as a payroll expense.

Retirement plans: Contributions are made by employees out of their paychecks; employers do not bear this cost. However, the employer’s portion of the contributions is a payroll expense.

Dental Health, Physical health, and other premiums: visitionPremiums for life, health, dental, and vision insurance are paid by the employer and are recognized as business expenditures rather than being deducted from income. The worker’s premium is not a payroll expense; rather, it is subtracted from salary.

Union dues: On behalf of the employee, dues are subtracted from wages and sent to the union.

Loan payments deducted from salary are neither a payroll expense nor a payroll liability if an employee repays a loan from their company. Rather, the payment decreases an asset (loan-receivable) account and increases the employer’s cash account.

Payroll service costs

1. Hiring an accountant or using a payroll service provider is an expense for the firm.
2. As was previously mentioned, when payments are made to a third party, some payroll liabilities are reclassified into a payroll cost account.

Why are My QuickBooks Payroll Liabilities Not Showing Up?

There could be several reasons why your QuickBooks payroll liabilities are not showing up, such as an outdated version of QuickBooks, incorrect payroll settings, or issues with your payroll subscription. You may need to update your QuickBooks software, check your payroll settings, and contact Intuit support to resolve the issue.

Solutions to Fix QuickBooks Payroll Liabilities Not Showing

Since there are many possible causes of the ‘QuickBooks Payroll Liabilities Not Showing’ error, ways of fixing each one of them will be different from one another. Refer to the cases below and follow its step-by-step guide in case you find a similar cause.

Situation 1: Liability Account of the Users is Not Active

Follow the steps given below if the user’s liability account is inactive:

Step 1: To do this, select the Lists menu item.

Step 2: Select the Chart of Accounts by selecting it from the drop-down menu.

Step 3: Make sure the inactive person is chosen from the list

Note: There are no inactive accounts, therefore if you don’t pick the Inactive option, don’t proceed. Still, if you are able to choose Inactive, then go ahead.

Step 4: If there’s a big X on the left side of your liability account, select Edit.

Step 5: Click the Make Account Active tab after that.

Step 6: Choose the Chart of Accounts to complete.

Situation 2: In Case Dates Are Incorrect in QuickBooks Payroll Liabilities

If the dates are mentioned in the QuickBooks Payroll liabilities then you are likely to face the error ‘QuickBooks Payroll Liabilities Not Showing’. Follow the steps given below to resolve this error.

Step 1: You are required to open the QuickBooks account, click on the Employees menu dropdown, and select the payroll center.

Step 2: Click the Transaction tab now.

Step 3: Selecting the Liability checks is required.

Step 4: Select a date.

Step 5: Additionally, change the drop-down menu’s range to This Calendar Year.

Step 6: ​​Check the Paid Through Date after that.

Step 7: In order to open it for editing purposes, you are required to click on the line with liability check, two times.

Situation 3: Missing or Lost QuickBooks Payroll Liabilities

In case you are unable to find the QuickBooks Payroll Liabilities because they are lost, then you are advised to refer to the step-by-step guide provided below to resolve this issue.

Step 1: Select the Payroll Taxes and Obligations option from the Employees menu.

Step 2: Click on the ‘Create Custom Liabilities Payments’ option after this.

Step 3: After choosing the liability period, click “OK.”

Step 4: Your obligations will be displayed in a new window that opens.

Step 5: It is advised that you use the QuickBooks account Verify and Rebuild Data function in the event that any data is damaged.

Situation 4: If the User has not Updated QuickBooks Payroll Tax Table

You are required to update the tax table to its recently released version to be able to fix the ‘QuickBooks Payroll Liabilities Not Showing’ error. Users must refer to the step-by-step guide provided below to resolve this error.

Step 1: You must select the ‘Update QuickBooks’ option from the Help Menu dropdown.

Step 2: Now, click on the option titled ‘Update Now’.

Step 3: Select the Get Updates option after that.

Step 4: After selecting File, click Exit.

Step 5: Finally, give QuickBooks Desktop a restart.

Situation 5: Uncategorized QuickBooks Payroll List

Users whose QuickBooks payroll list has not been categorized may face a ‘QuickBooks Payroll Liabilities Not Showing’ error. To fix these errors, you must follow the steps given below:

Step 1: You are required to select the list from the Lists menu to arrange it properly.

Step 2: Select the “Include Inactive” checkbox now. There are no names that are inactive if it is grayed out.

Step 3: Drag your cursor over the View menu and choose Re-sort Lists.

Step 4: Press the OK button.

Step 5: Close and reopen your company file at the conclusion.

Situation 6: When Another Liability Account Is Incorrectly Linked to the Payroll Factor

In case you have linked another liability account to the payroll factor, you can rectify the ‘QuickBooks Payroll Liabilities Not Showing’ error by following the steps provided below.

Step 1: Navigate to the List menu and choose Payroll Item List.

Step 2: You now have to select the additional object and do a right-click on it.

Step 3: Select the Payroll Item for editing.

Step 4: Click the Next button to adjust the liability account.

Step 5: After that, click Next once again before selecting Finish.

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