Seeking assistance with correcting a YTD on an employee in QuickBooks
There are circumstances when the user face problem with wrong YTD additions and deductions. It happens when a QuickBooks payroll item with the wrong tax tracking type was used or when a payroll item used has the correct tax tracking type but the check marks are changed by the customer in the tax items screen, causing tax and wage base calculation error.
When you get this error you can apply the correction in the following paycheck in the same year with the condition the paycheck is for wages. You will have to correct the payroll item so it shows the right YTD amount. For correcting only the addition or deduction, but not a company contribution, knowing the correct Tax Tracking Type for the incorrect payroll item.
To verify YTD additions or deductions on a paycheck when a payroll item with the wrong tax tracking type was used:
- Prepare a payroll summary report for the latest calendar year to decide the amount of money deducted using the old payroll item. Keep a note of the amount or print the report as the information is required in future.
- Generate a new payroll item with the correct Tax Tracking Type.
- Going to the employee profile, create a new payroll item with the correct amount for future payrolls. Remove the old payroll item.
- Arrange a paycheck for the particular employee as part of the next payroll in the ongoing year.
- You can view the amount in the paycheck by going to the Preview Paycheck window, under Other Payroll Items, the current deduction/addition.
- Choose the old payroll item from the drop-down list.
- Input the amount from the YTD Payroll Summary Report as a positive or negative number.
- Then check the YTD amount for the old payroll item on the preview paycheck in the Employee Summary, YTD column is zero.
- Select Other Payroll Items drop-down arrow -> select the new payroll item. Enter the same amount used for the old payroll item in the Payroll Summary report as a negative for a deduction or a positive number for an addition.
- Prepare your pending payroll, but send it once it completes then go ahead.
- Prepare a new payroll summary report to verify that the amount of the old/incorrect payroll item is now $0.00 and the right amount has been moved to the correct and new setup payroll item that should include the latest paycheck amounts.
- Finally print your employee paychecks.
If you have any doubt or are not through with how to correct YTD on an employee, you will have to contact QuickBooks customer service support. The support team is prompt and proficient in catering support services for all QuickBooks related problems. You can contact them through the toll free phone number, email support and online chat option.
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