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How to reconcile Payroll Liabilities in QuickBooks?
QuickBooks accounting software is loaded with various features and functionalities, one such feature is that it lets you reconcile your payroll liabilities. When we talk about payroll reconciliation, it is basically the process of comparing your payroll register with the amount you plan to pay your employees. The aim of reconciling in QuickBooks is to confirm that the numbers match. Coming to payroll liabilities in QuickBooks, it can simply be categorized into two basic categories i.e., employer expenses, and employee liability. These two are then classified into sub-categories namely federal income tax, state income tax, social security withholding, and Medicare withholding.
