I, too have the same problem.
My tax is 4 cents more than my deposit. QB is not making the adjustment automatically, and it won't even let me input anything in the box. Very frustrating!!!!~!
@MaryAnn_E wrote:
Hello @ceccios,
QuickBooks automatically calculates the fractions of cents (within one dollar) of the difference between the net taxes amount and the quarter's liability amount.
On form 941 for line 7, this indicates to adjust fractions of cents from lines 5a-5d. At some point, you will probably have a fraction of a penny when you complete your calculations. The fraction adjustments relate to the employee share of Social Security and Medicare taxes withheld.
The employee portion of Social Security and Medicare taxes from lines 5a-5d may differ from the amounts you actually withheld from employees’ wages due to rounding. Line 7 is for you to report these types of penny discrepancies.
Whenever you need changes, I suggest reaching our customer support team to assist you and open your account in a secure environment.
Here are additional links that might help you about the 941 forms:
Please get back to us if you require additional assistance.
@MaryAnn_E wrote:
Hello @ceccios,
QuickBooks automatically calculates the fractions of cents (within one dollar) of the difference between the net taxes amount and the quarter's liability amount.
On form 941 for line 7, this indicates to adjust fractions of cents from lines 5a-5d. At some point, you will probably have a fraction of a penny when you complete your calculations. The fraction adjustments relate to the employee share of Social Security and Medicare taxes withheld.
The employee portion of Social Security and Medicare taxes from lines 5a-5d may differ from the amounts you actually withheld from employees’ wages due to rounding. Line 7 is for you to report these types of penny discrepancies.
Whenever you need changes, I suggest reaching our customer support team to assist you and open your account in a secure environment.
Here are additional links that might help you about the 941 forms:
Please get back to us if you require additional assistance.
