QuickBooks Payroll Liabilities and Clearing Reconciliation Review
Check payroll accounts against payroll reports (education only).
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Review payroll-related accounts for learning. Balances of wages, employer taxes and contributions, payroll liabilities and payroll clearing accounts at period end: [PAYROLL_BALANCES]. Payroll provider summary for the period: [PROVIDER_SUMMARY]. Payments made to authorities and employees: [PAYMENTS]. Explain in plain words what each account represents, with a small invented example: gross pay 10,000, employee deductions 2,000, net pay 8,000, employer costs 800, showing where each amount sits and how it moves when payments are made. Compare each balance with the provider's summary, showing arithmetic. Check that liabilities decrease when payments are made, the clearing account nets to zero after each pay run, and nothing old remains. Worked month: provider shows gross pay 20,000, deductions 4,100, net pay 15,900, employer costs 1,700; books show wages expense 20,000, employer costs expense 1,700, liabilities of 5,800 (4,100 plus 1,700), and a clearing balance of 0 after payments. To investigate a clearing balance of 300: compare the bank payment with net pay, look for unrecorded adjustments, and ask the provider. Return a reconciliation table with Item, Books, Provider, Difference and Suggested question, listing questions not conclusions, plus a monthly check. Payroll tax and employment rules are specific to the place, so every point that might involve filing or penalties goes to my payroll provider or accountant. Do not give legal or tax advice [VERIFY].
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