How to Fix Payroll Mistakes in QuickBooks?
QuickBooks Payroll is the powerful tool to manage employee salaries, pay health insurance, garnishments, employee loan repayments, sick time, vacation time, taxes and many more. But this also brings some mistakes in payroll which can be fixed and resolved easily. With the help of QuickBooks expert team you can get out of payroll issues easily. Contact QuickBooks Helpline Number Canada and ask for help and support in fixing QuickBooks Payroll mistakes.
Some Common Payroll Mistakes in QuickBooks
- Missing entries in Books of accounts: When you try to overlook transactions in your record keeping particularly for small transactions and then when you figure out it later this can lead to accounting headaches and increases the chances of missing entries.
- Transactions recorded in the Wrong period: If you mistakenly record a transaction in the wrong account this could cause the revenue to fall into the wrong period.
- Failing to create a Backup: You should backup your accounting records frequently. Because if hard drives fails, it will be devastating for you.
- Failure to Account for Employee Incentives: CRA considers cash prizes, employee benefits and non-cash rewards as taxable except non cash gifts and rewards. So, make sure to include all this in your payroll tax liability calculations.
Symptoms of Payroll Errors:
Always keep eye on payroll errors so that mistakes can be minimized. If you see following symptoms, there must be some payroll errors:
- When payroll liabilities are higher than expected
- When payroll tax expense is higher than expected
- Bank account balance appears correct
If troubling with the same situation, contact QuickBooks Support Number Canada and avail best assistance services at lower cost and minimum time.