FICA Employment/Match
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FICA Employment/Match
I had to manually post a payroll check. I changed the gross amount on the Manual Check screen, but what I didn't realize is that the Employee SSI/Med and Employer SSI/Med amounts did not recalculate. I discovered this, when I was working on the 4th quarter 941. The system deducted more SSI/Med both Employer and Employee. I know how to correct it in the Fund Accounting Module, but that will not correct the Payroll Module. How do I fix this? I can't delete the check and reissue another one, because it has already cleared.
Terri Hegedus
FICA Employment/Match
DB CR
(Cash) Payroll 34.70
(Liab) SSEmployee 12.40
MedEmployee 2.90
SSMatch 12.40
MedMatch 2.90
(Exp) MinAsst 50.00
SSMatch 12.40
MedMatch 2.90
Should have been:
(Cash) Payroll 46.18
SSEmployee 3.10
MedEmployee .72
(from here I think you can see what the problem is. SS should be 3.10 and Medicare should be .72 for both Employee and Employer) Hope this makes sense. Outage is 22.95, so I'll need to adjust .01cent.
(Cash) Payroll 34.70
(Liab) SSEmployee 12.40
MedEmployee 2.90
SSMatch 12.40
MedMatch 2.90
(Exp) MinAsst 50.00
SSMatch 12.40
MedMatch 2.90
Should have been:
(Cash) Payroll 46.18
SSEmployee 3.10
MedEmployee .72
(from here I think you can see what the problem is. SS should be 3.10 and Medicare should be .72 for both Employee and Employer) Hope this makes sense. Outage is 22.95, so I'll need to adjust .01cent.
Terri Hegedus
-
Matt
- Authorized Teaching Consultant
- Posts: 733
- Joined: Fri Dec 05, 2003 4:04 pm
- Location: Jacksonville, AL
Yes, this one is a challenge to fix because the check has already been cashed for the wrong amount. While a bit messy here's one way you could correct this:
1). In the payroll module reverse the original incorrect entry by using void check.
2). In the payroll module post the check with the correct amounts using manual check. Use the same check number and date as on the original incorrect posting.
3). The payroll module is now correct but you will need to clear the $11.48 difference between the check amounts in Fund Accounting in order to clear this check off the bank reconciliation and correct the payroll cash account balance. To clear, input a transaction in Fund Accounting that debits the payroll cash account and credits the MinAsst expense account for $11.48. For the reference, use the same check number as on the original incorrect entry. On the bank recon clear the $34.70 and $11.48 "deposits" against the $46.18 check.
4). The church owes the employee $11.48. Cut a new check in the Accounts Payable module for $11.48 and debit the MinAsst expense account and credit the payroll cash account. In the notes box make a note that this is to reimburse the person for the incorrect payroll check amount. Be sure to reference the incorrect check number and date in the note.
5). Once this is complete the payroll and Fund Accounting modules will both show $50.00 net expense in the MinAsst expense account, $3.10 in SS tax withheld, and $.72 in Medicare tax withheld.
1). In the payroll module reverse the original incorrect entry by using void check.
2). In the payroll module post the check with the correct amounts using manual check. Use the same check number and date as on the original incorrect posting.
3). The payroll module is now correct but you will need to clear the $11.48 difference between the check amounts in Fund Accounting in order to clear this check off the bank reconciliation and correct the payroll cash account balance. To clear, input a transaction in Fund Accounting that debits the payroll cash account and credits the MinAsst expense account for $11.48. For the reference, use the same check number as on the original incorrect entry. On the bank recon clear the $34.70 and $11.48 "deposits" against the $46.18 check.
4). The church owes the employee $11.48. Cut a new check in the Accounts Payable module for $11.48 and debit the MinAsst expense account and credit the payroll cash account. In the notes box make a note that this is to reimburse the person for the incorrect payroll check amount. Be sure to reference the incorrect check number and date in the note.
5). Once this is complete the payroll and Fund Accounting modules will both show $50.00 net expense in the MinAsst expense account, $3.10 in SS tax withheld, and $.72 in Medicare tax withheld.