I am calculating payroll for a client and I noticed something I can't explain. When the program calculates the employee social security tax from the gross earnings, it calculates it at 3%. I checked the item set-up and it is correctly set at 4.2%. As far as I can tell, there is nothing I could have done in setting up the payroll to make it calculate ss wrong. Any ideas as to why this program, on only one of our clients, seems to be acting so wonky?
Could the Employee have been over withheld earlier in the year? in which case QuickBooks will try to adjust for the difference until the correct amount at 4.2% is withheld.
This has happened all year. I am putting in the payroll from a third party, and their figures are correct, so I have been overriding them all year in Quickbooks. I don't think over withholding was an issue.
I would still do a manual calculation on the YTD Gross Taxable earnings for one of the employees and the SS withheld YTD, just to make sure....
and of course check with Intuit's payroll support.
Good luck to you,
Donna
Hi Taxplus,
I would call payroll tech support at 1-800-624-2106. Your tax table did not update correctly for the company. They can help you.
Rubies
Actually, I think the table is fine, because the item shows the correct percentage of 4.2%. For whatever reason, the program is not using that percentage, even though it shows it should be using that percent. Definitely calling tech support at this point though.
