How do you refund over-collected payroll taxes?
I am curious to know how you refund over-collected payroll taxes to employees. I want to refund through a subsequent payroll and match tax payments and 941 to avoid filing 941x. Refunding through One-Time Taxes will reduce tax balances but will not reduce taxable gross balances. Is there any way we can reduce both without manual balance adjustments? Also, is there a way to refund by taxable gross and have HCM calculate how much tax to refund? Can Adjust Paychecks be used for this purpose?
We are on PeopleSoft HCM 9.2 - Payroll for NA.
Thanks,
Chie