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Subject Author Date
Federal Unemployment Tax jhunter 01-25-2008
Posted by jhunter on January 25, 2008, 11:43 am
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 I use QB Pro 2005.

All my payroll liabilities (Employees-Process Payroll Liabilities-Pay
Payroll Liabilities) show up correctly except "Federal Unemployment"
which always shows $0.00. But if I go to the actual register for
"Federal Unemployment" it say the balance is $56 (and I can see where
it accrues a bit each payroll check until it gets to $56). Anyone know
how to fix this? Details below...




Under Payroll Item List-Federal Unemployment I have...

Liability account (company paid) = 25100 FUTA Payable
Expense account = 6560 Payroll Expenses

Federal unemployment tax rate = 0.8%

Taxable compensation (all are checked except)...
408(k) SEP Co.
Allocated Tips
S Corp. Medical
Simple IRA Co.
Taxable Group Term Life

Pre-tax decuctions (all are checked except)...
Simple IRA Emp.

Posted by Jeff on January 26, 2008, 12:18 pm
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 Check your dates. Make sure its for the right period (i.e. 1/1/2007 to
12/31/2007)
Jeff
>I use QB Pro 2005.
>
> All my payroll liabilities (Employees-Process Payroll Liabilities-Pay
> Payroll Liabilities) show up correctly except "Federal Unemployment"
> which always shows $0.00. But if I go to the actual register for
> "Federal Unemployment" it say the balance is $56 (and I can see where
> it accrues a bit each payroll check until it gets to $56). Anyone know
> how to fix this? Details below...
>
>
>
>
> Under Payroll Item List-Federal Unemployment I have...
>
> Liability account (company paid) = 25100 FUTA Payable
> Expense account = 6560 Payroll Expenses
>
> Federal unemployment tax rate = 0.8%
>
> Taxable compensation (all are checked except)...
> 408(k) SEP Co.
> Allocated Tips
> S Corp. Medical
> Simple IRA Co.
> Taxable Group Term Life
>
> Pre-tax decuctions (all are checked except)...
> Simple IRA Emp.



Posted by jhunter on January 27, 2008, 11:20 am
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Yeah, my dates are correct. And all the other stuff (like N.C.
Unemployment, N.C. Withholding, Federal Withholding, Medicare Company
& Employee, and Social Security Company & Employee) show up correctly.
The only one that's off, AND HAS BEEN EVERY QUARTER FOR AWHILE NOW, is
"Federal Unemployment".

Any other ideas?

Posted by Jeff on January 27, 2008, 7:57 pm
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Are you signed up for Payroll? I'm assuming you are.
You've stated that you went to the Chart of Accounts (Ctrl-A)>25100 FUTA
liability account register and your balance as of 12/31/2007 is $56.00 ? If
this is correct and you use the matching dates, then FUTA should show you
needing to pay that amount in the "Pay Liabilities" screen. I use QBP07 and
it functions the same as QBP05.
Jeff

> Yeah, my dates are correct. And all the other stuff (like N.C.
> Unemployment, N.C. Withholding, Federal Withholding, Medicare Company
> & Employee, and Social Security Company & Employee) show up correctly.
> The only one that's off, AND HAS BEEN EVERY QUARTER FOR AWHILE NOW, is
> "Federal Unemployment".
>
> Any other ideas?



Posted by Laura on January 27, 2008, 9:03 pm
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> Yeah, my dates are correct. And all the other stuff (like N.C.
> Unemployment, N.C. Withholding, Federal Withholding, Medicare Company
> & Employee, and Social Security Company & Employee) show up correctly.
> The only one that's off, AND HAS BEEN EVERY QUARTER FOR AWHILE NOW, is
> "Federal Unemployment".
>
> Any other ideas?

$56 is the amount for a single employee so I am wondering if that is from
another year? How many employees do you have in 2007? Does the employee
summary report show FUTA calculated for all employees?


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