Before you start paying employees, the most important thing is to make sure it is setup correctly! Refer the following FAQ article that explains some common reasons why your payroll calculations are not calculating correctly.
Hello, I've been working on quickbooks since 2003, with no real payroll issues until now.
Jan tables installed correctly tax taken on a $707.20 gross amt $98.86
Feb doing payroll, tax amount jumps to $98.80
March tax amount jumps to $101.30
so, why is it only changing and what is occuring that tax tables are staying the same? Wendy
I would strictly use CRA's payroll. Its free and always correct. There may be a few cents difference from what the CRA program calculates and their computer program. I have never used QuickBooks payroll. Its expensive and generally incorrect.
This was in the help section, I am not sure if it takes some mystery away....it's a little over my head.
Why are withholding calculations in QuickBooks different from printed tax tables?
You may notice differences between calculations by QuickBooks and printed wage bracket tax tables from the CRA.
The printed tax tables show one set of withholding amounts for a range of salary amounts. For example, CRA tax tables may not distinguish between gross wages of $1000 and $1010 - both will be subject to the same withholding amounts.
QuickBooks, however, calculates the exact withholding amounts for a salary amount, without using ranges. For example, in QuickBooks, gross wages of $1000 will be subject to different withholding amounts than gross wages of $1010.
Both methods are correct and acceptable to the CRA. Small discrepancies of up to $20 on a monthly pay cheque are acceptable.
The fix Quick Books provides for payroll works for YTD amounts but not for bonuses or any additional items missing and they don't plan on having a patch until late January.
We were on the phone with them for 8 hours going in circles. Totally unacceptable.
If this post was made today, then it is 9/5/2011, and not 12/29/2010 as noted in your post's date. Therefore, one could assume there may be a problem with your computer's clock.
Better yet, why would the company portion of CPP be a different amount from the employee portion?
One of your clients is using Quickbooks for accounting, including payroll, and the employer portion of CPP is larger than the employee portion.
