State payroll not matching Wages Totals

Options
Robin_7036558
Robin_7036558 Member Posts: 38 ✭
edited August 2016 in Reckon Accounts (Desktop)
Hi, I am using Hosted R2 and I see that the State Payroll Tax Summary is vastly different to the "Payroll Totals" making it very difficult to know which report is correct for use to advise Government of our Payrioll tax liability.
The difference is over $100K Thanks in advance.

Comments

  • vinia
    vinia Alumni Posts: 53 ✭
    edited July 2015
    Options

    Hello Robin,

    Thank you for using the Reckon Chat.

    Sorry for the late reply as this is the busiest time of the year.

    About your query.

    Depending which State.

    Question:

    Why is the State Payroll Tax calculating incorrectly?  I have installed the 2015/16 Tax Table Update.


    Solution:

    Export The State Payroll Tax to an Excel file and modify the threshold amount and tax rates to produce the correct result.


     Workaround

    Follow these instructions to calculate the correct amount of State Payroll Tax:

    1. Export the State Payroll Tax Detail [Base Amount] Report for the relevant period to Excel;
    2. Change the Threshold amount to the current threshold amount for your period;
    3. Enter a formula into the Taxable Amount field to calculate the taxable amount ( (Total Included Amount minus threshold);
    4. Enter the correct rate into the Percentage field
    5. The Payroll Tax Liability for <State> should be correct.  


    Please Note:  Payroll Tax scales are subject to change at any time.  Please refer to your State’s Office of State Revenue website for notices of changes.

    Kind Regards,

    Vinia Laguda

    Advantage Support Team

Categories