February 05, 2011 04:08PM
I need a little more detail about how to do what was suggested in the previous posts. I tried it and I am going backwards.

The first thing I did for my first 2011 payroll was go to Accounting-Payroll-Tax Tables-Federal and changed the FICA rate from 6.2 to 4.2. I then hit OK.

Then I went to Accounting-Payroll-Pay Calculation. In that window I hit the Calculate Pay button. The FICA and Medicare withholdings were correct (4.2% and 1.45% of gross wage). I hit the Record button.

Next I went to Accounting-Payroll-Record Checks. I highlighted the employee and hit record.

At this point I go to Accounting-Payments and Purchases-Payroll Deposits and then hit the Update Balances button. As expected, both the employer and employee have the amount equal to the new rate of 4.2 plus 1.45. Since this is incorrect for the employer, I cancel out of this window.

Now I try to do what Dennis and Scott suggest. I go to Accounting-General Ledger-Input Journal Entries. I enter the amount equal to the extra 2%, find the FICA-Medicare (Employer) account and hit the Debit button. Then I enter the same amount, find the FICA-Medicare Expense account and hit the Credit button. Hit Record.

Now I go back to make the Payroll Deposits window. When I hit the Update Balances button, instead of increasing the FICA-Medicare Payable (Employer) amount by the 2% amount, it has decreased it that amount.

What am I doing wrong and how do I correct it?
SubjectAuthorPosted

2011 Payroll Update is now Available

Deb HurrawJanuary 05, 2011 03:32PM

Re: 2011 Payroll Update is now Available

angeliesmithJanuary 02, 2013 08:02AM

Re: 2011 Payroll Update is now Available

dwilkenNovember 30, 2012 11:03AM

Re: 2011 Payroll Update is now Available

KathyClineNovember 30, 2012 11:40AM

Re: 2011 Payroll Update is now Available

dwhelmersJanuary 05, 2011 04:36PM

Re: 2011 Payroll Update is now Available

Scott NusbaumJanuary 05, 2011 05:46PM

Re: 2011 Payroll Update is now Available

dwhelmersJanuary 05, 2011 06:22PM

Re: 2011 Payroll Update is now Available

Scott NusbaumJanuary 05, 2011 10:00PM

Re: 2011 Payroll Update is now Available

Mary Paul WilliamsSeptember 02, 2011 03:15PM

Re: 2011 Payroll Update is now Available

KathyClineSeptember 02, 2011 04:58PM

Re: 2011 Payroll Update is now Available

Mary Paul WilliamsSeptember 07, 2011 09:09AM

Re: 2011 Payroll Update is now Available

Deb HurrawJanuary 05, 2011 05:22PM

Re: 2011 Payroll Update is now Available

bstfarmerFebruary 05, 2011 04:08PM

Re: 2011 Payroll Update is now Available

Scott NusbaumFebruary 05, 2011 06:40PM



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