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  • 941 calculations

    I am working on the 941 for the first quarter 2004. I use QBP2002 and do-it-yourself payroll and I pay my employees weekly.
    The tax liability figures that come up on the 941 form are short the first week's numbers from the first paychecks in 2004.
    All my accounts are showing the correct amount deducted from the checks as well as the company amounts, but the 941 is missing the figures from the first paycheck of the new year.
    What could be causing this?
    I have verified my data and there was an error so I rebuilt the data and then verified again and got no errors.
    But the 941 was still short the amount from the first paychecks of the year.
    Any help would be appreciated
    Thanks
    Linda

  • #2
    I went off the payroll system once (mostly because of the outrageous renewal fees and the planned obsolesence of the basic program) and found that I could not trust any of the payroll related accounts. The 941 production seems to be a part of the payroll system. That said, using an Excel spreadsheet for payroll calculations, filling out the 941 in pen is not a big deal and the IRS still accepts it.
    Phil Munck

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    • #3
      excel spreadsheet is good

      I have created an excel spreadsheet that has 941, unemployment, and state tax all on one sheet for all four quarters complete with formulas so all you do is type in each employees wages, fed tax and state tax, and ss/med and unemployment is figured for you, even have formula to deduct excess wages for unemployment. info that results is all you need to fill out all 2-3 quarterly forms. Anyone is welcome to it. YOu'll just need to edit the numbers for unemployment for your state. email me at ken@lavoieslandscape.com and I'll send it toyou.
      ken lavoie
      www.centralmaineweb.com
      www.lavoieslandscape.com

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      • #4
        I have a couple thoughts; when the liabilities were paid, what was the "paid through date" and what was the liability payment date?
        The other thought is; what was the pay check dates?

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        • #5
          941

          HBE.....I think that is where the problem lies. I went back to the liability check and it was set to pay liabilities through 12/31/04. I changed that to 1/08/04 (the first payroll date for the new year) and then the "deposits" for the quarter line on the 941 came across at the correct amount which it wasn't doing before.
          But after fixing that date, the federal tax liability part of the liability is still omitting that amount that was from the first pay period. The date on the paychecks is correct. Everything shows up in the GL accounts correctly when I ask for the first quarter amounts.
          But now I'm wondering if my bookkeeper may have had the date incorrect on the paychecks,paid all the liabilities, then went back and changed the date on the checks. If the taxes were paid before the correction was made, would the 941 system not make the correction if the date got changed to the correct date? I'm just grasping at straws.
          I just made the adjustment to the fed tax liability amount on the 941 and everything comes out okay. Hopefully it won't mess up any other tax reporting.
          Thanks for your input.
          Linda

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