Making Payroll Liability Payments

Payroll liability is the amount you owe the government and other agencies for the taxes, deductions, and company contributions you accrue from issuing paychecks.

Liability payments are made to vendors you set up as tax agencies. For more information, see Associating a Vendor With a Payroll Item.

Form 941 may show slight rounding differences between Part 1 and Part 2.

To make a payroll liabilities payment:

Go to Transactions > Bank > Pay Payroll Liabilities.
In the Account field, select the account on your balance sheet identified as the Payroll Funding Account containing the funds to pay these expenses.

For more information, see Payroll Preferences.

NetSuite displays the current balance in this bank account in the Account Balance field.
In the Date field, accept today's date or enter another date.

Note:
The date in this field is the date that appears on the check.
If you use accounting periods, in the Posting Period field select the period to which you want to post this liability.

Note:
If the period you select is closed, you cannot post to that period.
If you use NetSuite OneWorld, select a subsidiary.

For more information, see Payroll Setup in OneWorld.
If you want to print checks to these vendors, check the To Be Printed box.

To print checks, go to Transactions > Management > Print Checks and Forms > Checks. For more information, see Printing Checks and Other Transactions.

If you use the Service Printed Checks and Stubs feature and intend the payroll service to print checks and stubs, do not check this box.
Select the department, class, or location to associate with this payment.
In the Show Liabilities From field, select a beginning date for the transactions that you want to include in this liability payment.
In the Through field, select an ending date for the transactions that you want to include in this liability payment.
Check Apply Existing Payments if you previously overpaid a liability and now have a credit on record with a tax agency.
Next to the items you want to pay, check the Pay box.

To pay all of the line items, click Mark All.

The Amount field at the top of the page autofills with the total of the items you select.
Click Save.

To make a payroll liabilities payment:

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