Payroll/tax ?

[whfpc]

Good morning. Using version 12, when I started our payroll was 15th and the last day of the month. Employee's would submit their time sheets in advance (I KNOW!, this has changed), say for the 15th time sheets are due on the 9th but they would complete their time sheets through the 15th of the month but turn them in on the 9th. I have changed the pay dates but kept the same pay days, i.e. 15th and the last day. This week was the first payroll since the change and now I am wondering how this will effect my taxes? SO for payroll deposited on May 31st the payroll dates were 5/16-5/28 due to me on the 29th. When I ran my reports I had to use the 31st to get the proper information (I tried running for 5/16-5/28 and received the error "no records selected" I had to use the 5/31 date. When I do payroll next the pay dates will be 5/29 - 6/9 for 6/15 pay deposit. When I run reports for that period I assume I need to pick up 5/29 but will that include all of the period for the pay deposit 5/31? Or do I need to continue to use 6/1-6/15 and powerchurch will just know when to calculate it. Hope I make sense

Robin

[NeilZ]

Good morning. Using version 12, when I started our payroll was 15th and the last day of the month. Employee's would submit their time sheets in advance (I KNOW!, this has changed), say for the 15th time sheets are due on the 9th but they would complete their time sheets through the 15th of the month but turn them in on the 9th. I have changed the pay dates but kept the same pay days, i.e. 15th and the last day. This week was the first payroll since the change and now I am wondering how this will effect my taxes? SO for payroll deposited on May 31st the payroll dates were 5/16-5/28 due to me on the 29th. When I ran my reports I had to use the 31st to get the proper information (I tried running for 5/16-5/28 and received the error "no records selected" I had to use the 5/31 date. When I do payroll next the pay dates will be 5/29 - 6/9 for 6/15 pay deposit. When I run reports for that period I assume I need to pick up 5/29 but will that include all of the period for the pay deposit 5/31? Or do I need to continue to use 6/1-6/15 and powerchurch will just know when to calculate it. Hope I make sense

Robin

Um .. could you be more specific as to what you expect Powerchurch to be calculating?? Are you looking for Income Tax Withheld? Local State Taxes? 941 ?? Are you doing the payroll in Powerchurch??

Also ... I may have missed something but what exactly are your pay periods?? 1st thru 15th, and 16th to the end of the month??

[whfpc]

Income tax withheld, we are in Florida and pay 941 taxes by pay period. Pay periods (dates) change but we are paid on the 15th and the last day of each month. For example, direct deposits hit tomorrow 5/31 (the last day of May) and the dates the employees are paid for are 5/16-5/28.

[NeilZ]

Income tax withheld, we are in Florida and pay 941 taxes by pay period. Pay periods (dates) change but we are paid on the 15th and the last day of each month. For example, direct deposits hit tomorrow 5/31 (the last day of May) and the dates the employees are paid for are 5/16-5/28.

As long as you have the tax tables correctly setup for the Federal Income Tax ANNUAL tax table, the system will properly figure out taxes no matter what you use for a pay period.

When you select the 941 report from the Payroll menu, and select 'last month' (usually its the one you're paying a tax deposit on) it will use the entire month.

[whfpc]

That's where I am afraid we may have an issue, I used to pay by pay period which used to be 5/1-5/15, 5/16-5/31 etc and I chose defined dates. This month we paid 5/1-5/15 on 5/15 and then 5/16 - 5/28 to be paid on 5/31. Maybe I need to start paying monthly? But for now maybe I will need to run a report for the month of May and then run one the end of June add them together and deduct what I paid for the 1st half of May?

Robin

[NeilZ]

That's where I am afraid we may have an issue, I used to pay by pay period which used to be 5/1-5/15, 5/16-5/31 etc and I chose defined dates. This month we paid 5/1-5/15 on 5/15 and then 5/16 - 5/28 to be paid on 5/31. Maybe I need to start paying monthly? But for now maybe I will need to run a report for the month of May and then run one the end of June add them together and deduct what I paid for the 1st half of May?

Robin

What do you mean by "paid for the 1st half of May" .. paid what ?? Are you paying your FITW semi-weekly, or monthly ?? If for the period July 1,2016 thru June 30th 2017, you paid less than $50,000 in federal withholding, you don't have to pay semi-weekly. If you have to pay semi-weekly, I suggest you read IRS Notice 931, Deposit Requirements for Employment Taxes. https://www.irs.gov/pub/irs-pdf/n931.pdf. This notice will tell you what you have to do, and how to do it.

I really don't know your situation, so anything I could say would be pure speculation.