941 - Error in Current Quarter's Adjustment for Fractions of Cents

[goldstar]

I have to enter a transaction for the previous year (2012) for a single employee.

I have already updated my PayWindow application with all the latest Tax Tables for the current year (2013).

After doing this update I changed the Date in the application to the last day in 2012.

I then entered the single transaction, hit calculate and saved the transaction.

On the 941, there is a very large error in the field for Current Quarter's Adjustment for Fractions of Cents. The amount is something like $600 or so.
The actual paycheck or transaction I am entering is a large amount, so that may be lending to the large error in Fractions of Cents.

I set up the employee the way all the other employees are setup. There are no special or additional deductions, just a regular salaried employee like the others.

This one transaction however is causing some major issues on the 941.

Is there some problem with my practice. When I change the Date to 2012, is that going to necessarily cause some issues in the calculations of the 941? Is there a special process to go back and enter a transaction in the previous year - after you have already updated for the current year?

[Paul Mayer]

The problem is caused by using the 2013 FICA taxes. This page in the help file will tell you what you need to do if you have to do something in 2012, reports or most important, pay someone:

http://zpay.com/pw-online-help/Printing2012Reportsin2013.htm

You will need to delete the bad transaction and redo it.

[Cheryl]

The problem is caused by using the 2013 FICA taxes. This page in the help file will tell you what you need to do if you have to do something in 2012, reports or most important, pay someone:

http://zpay.com/pw-online-help/Printing2012Reportsin2013.htm

You will need to delete the bad transaction and redo it.

"I changed the 2013 FICA taxes back to 2012. I saved and then I changed the date to Dec. 31, 2012. On the 941 line 7 I get a credit of $114.44. Need help. I do one payroll a month. When I did the last payroll of 2012 the Employer's Payroll Total Report (Federal) QTD was $595.16 and it now shows as $480.71. Off by $114.45. HELP."

[Paul Mayer]

Actually you are going to have to email us for the link to download and install PayWindow 2012 to properly pay that transaction again and only after deleting it because you said it was a large transaction and *all* of the tax settings would have a problem.

Send an email to support@zpay.com referencing this message thread.