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Editing payroll tax forms

Process liability adjustments

To make sure that liabilities for tax agents match amounts calculated on tax forms during payroll tax form processing, the application notifies you when there are differences and allows you to make adjustments. You may need to do this if you process certain forms with a filing method of Electronic/Internet/Magnetic with payment.
When you process your client's payroll tax forms and select
Process Selected
, the application shows a report that lists clients' forms that require adjustments to match liability amounts.
  1. Select
    Process Adjustments
    .
    The application shows a list of client IDs, forms that require adjustments to cover liabilities, associated tax types and descriptions, and amounts of the differences.
  2. Select
    +
     next to each row to view the taxable wages, balance due, open liabilities, and (if applicable) the SUI rate for the client.
    note
    For Federal Form 940 and any states designated as Credit Reduction states, you might see an adjustment for the the credit reduction and another for the corresponding liability adjustment.
  3. To print a report of the liability adjustments for your records, select
    Preview Report
    , then
    Print All Reports
    .
  4. Use the
    Do Not Create
     checkbox if you don't want to create a liability adjustment for a particular form.
  5. Mark or clear the
    Write Off
     checkbox as needed.
    note
    The
    Write Off
     checkbox is available only if the tax agent associated with this adjustment is set up to be funded.
    The
    Write Off
     checkbox is marked by default if the adjustment amount is less than the write-off threshold amount specified for the impound bank account used for funding. To set up this threshold amount, go to
    Setup
    ,
    Firm Information
    ,
    Impound Bank Accounts
    , then the
    Main
     tab and use the
    Form adjustment write-off threshold
     .
    Adjustments that are marked as a write-off will still be paid or deposited by the impound bank account, but the fund will not be available to process from the
    Funding
     dialog. The firm treats them as write-offs. If the adjustment amount is more than the threshold amount, the checkbox will be cleared by default.
  6. For adjustments associated with a payroll consolidation group, assign the adjustment to a different client in the payroll consolidation group and select the client ID in the
    ID
     field.
  7. Select
    Process
    .
    note
    The diagnostic report and the Process Liability Adjustments dialog will not appear if the
    Do Not Create Tax Liabilities
     checkbox is marked in the Taxes section of
    Payroll Taxes
     tab. To check this, go to
    Setup
    ,
    Clients
    , then the
    Payroll Taxes
     tab.

This article applies to:

  • PRODUCT: Accounting CS
  • State: All states
  • Subject: Payroll tax forms

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