This topic explains the use of the Payroll Liability Deposit form. Please do NOT confuse this topic with the Make Deposit form or topic. The Payroll Liability Deposit form was specifically designed to handle deposits of money that is returned to you for over payments of payroll liability.
Do NOT use the Make Deposits form to deposit a refund of payroll liabilities.
This form makes it easy to quickly deposit refunds sent to you for over payment of payroll taxes. It is important to use this for especially for this purpose so that Total Office Manager can accurately track payroll liabilities.
From the main menu, click Employees > Deposit Refund of Liabilities
From the drop down menu, select the vendor you received the refund from.
The current date will populate this field automatically. You may change the date if you wish.
|For Period Ending
Enter the last day of the period that this refund was issued from. This is the quarter or other period that this refund came from.
From the drop down menu, select the account you want to make the deposit to.
Select the appropriate tax item that the refund check is refunding. It is important that you select the item that the refunded money originally paid.
Enter the amount you are depositing.
We highly recommend that you enter some type of note about this refund. This may include the letter date and letter number, explanation, etc.
Field Definitions (Cash Back)
|Cash Goes To
Indicate what account you want the cash back to be applied to. Cash, Petty Cash, Cash Drawer, etc.
Enter the dollar amount of the cash back.
|Cash Back Memo
Optional: Enter why you are getting cash back or any other information.
To save the information and close the form.
- Open the form as instructed above.
- If you wish to edit an existing deposit, edit each field as needed and click the OK button.
- If you wish to create a new deposit, click the Liability Refund button and select New Liability Refund.
- If you wish to delete a deposit, right click on the record in the list and select Delete Liability Refund.
- TOM does not recommend that you receive cash back from a deposit. This is NOT considered good professional accounting. If you want cash, write a check and cash the check.