943 Worksheet 1 for qualified sick leave credit

ReymondO · ‎January 13, 2021

Thanks for getting back to this thread, @nvw.

Let me share more details on how to show your employer hours for COVID payment in your Payroll Summary report.

Once you set up your payroll item, you'll have to make sure your selected Tax Tracking Type is based on the paid leave type that falls under FFCRA. This way, we can ensure that the hours you’ve used in your tax credits will reflect on your payroll reports.

Here's how:

Go to List and select Payroll Item List.
Search for the payroll item and double-click it to open.
Click Next until you reach the Tax Tracking type window.
Select the paid leave type, such as National Paid Leave EE or National Paid Leave Family based on what you are setting up as the tax tracking type.
Continue clicking Next until you reach the finish.
Select Finish when you're done.

You can check out this article for further guidance: How to pay your employees paid leave if they’ve been affected by COVID-19 with QuickBooks Desktop Pa....

After you’ve run your payroll with the paid leave, you should be aware of how it affects your taxes. Under the FFCRA, you’ll get credit towards your Federal Tax deposit for the wages and Employer Paid Health Insurance premiums paid under this act.

Please feel free to let me know if you need further assistance with setting up your taxes in QuickBooks. I'll be there to help.

nvw · ‎January 13, 2021

Hi

I'm confused. In a previous article it says to set up this way:

National Paid Leave EE

type: Addition

Amt: blank

Limit: $5110

Tracking: National Paid Leave-Emp

National Paid leave - medicare

type: company contribution

Amt blank

Limit $10,000

Tax Tracking: National Paid Leave-Medicare

National Paid Leave Credit

type Other tax

amt blank

Limit blank

Tax tracking co paid other tax

Are all these wrong??

CharleneMaeF · ‎January 13, 2021

I'm here to ease your confusion, nvw.

The steps shared by my colleague is the correct way to have hours for COVID payment appear on the Payroll Summary report. For more information about the set up, I suggest checking this article: Track Paid Leave and Sick Time for the Coronavirus.

If you need someone to guide you through the process, I encourage contacting our QuickBooks Support Team. They are equipped with tools to see your screen and help you set up everything correctly.

Here's how:

From the Help menu, select QuickBooks Desktop Help.
In the Have a Question window, scroll down to click the Contact us link.
This will display the Contact Us screen.
Go to the Tell us more about your question section to enter the issue or topic in the field box.
Click the Search button to display the Start a Message button.

Additionally, I've added these articles where you can check if you have other questions about the FFCRA:

I recommend getting in touch with us if have other concerns or questions. We're here to help you out.

staab2062 · ‎January 22, 2021

Along the lines of this... Can anyone tell me where to apply the credit 12b? Like a liability adjustment to Medicare or withholding?

Nick_M · ‎January 22, 2021

Hey there staab2062.

Thanks for dropping by the Community, I'm happy to help. If you're looking to make adjustments on your 943 form you can check out this helpful article, it covers how to make adjustments to liabilities in QuickBooks Desktop. I would also recommend checking out our Find an Accountant tool. If you don't have an accountant already, you can use this tool to locate one locally that is also an expert with QuickBooks. So you can rest assured your books are in good hands.

If there's anything else I can do to help, feel free to post here anytime and any day. Thank you and I hope you have a lovely day.

staab2062 · ‎January 24, 2021

Hi Thanks for that, but the credit was shown correctly on the 943. My question was where do I apply the credit for future use?

MarsStephanieL · ‎January 24, 2021

Hi there, @staab2062.

Employee retention credit and the FFCRA credits can be applied against certain employment taxes, the amounts for which are to be reflected on the revised Form 941 beginning with the second quarter of 2020. This includes any credit calculated for the period from March 13 through April 30 and any employer social security tax deferred for this period. You may apply credit each time you are going to submit payments.

You may check out this article to know more about the application of tax credits you've accumulated: How to claim your tax credits under the Family First Coronavirus Response Act.

Also, this reference from the IRS will clarify other questions you may have about FFCRA: COVID-19-Related Tax Credits for Required Paid Leave Provided by Small and Midsize Businesses FAQs.

You are always welcome to tag my name in the comment section if you have other questions. I'd be happy to answer them for you. Have a good one.

magnolials · ‎January 28, 2022

I have the exact opposite problem here in 2022 for 2021. The covid pay shows on my 943 workers but it was one 941 worker that was the recipient of the money. I can't over ride the line item anywhere. I finally gave up and went to IRS and had to manually type a 943 and 943a form up. QB costs too much to have to do my own forms. That]s what we pay QB for.

Topics

Training

Community

Resources