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Join nowI am a professional accountant. I have noticed this quarter (2nd Quarter 2020) 941 reports do not match the amounts for payroll liability.
For example: I have a small business who only pays for their payroll on a quarterly basis. The 941 report says he only owes $176.73. The payroll liability says he owes $310.14. I have been doing this for years I know these amounts need to equal.
Is anyone else having this problem?
Okay,
I figured out the issue with the 941 quarterly forms. It is not calculating Social Security wages on the form. I have the current Accountant Desktop version 2020. I purchased it last month. There is a bug in the calculations. I'm irritated because the price of accountant desktop went up and then I am having to do these forms by hand.
Yes I am having the same problem. I've updated and rebooted to no avail. Very aggravating.
Thanks for getting back to us and sharing how you're able to determine the cause of the issue, @DKilpack.
I want to inform you that he investigation related to Form 941 is already closed and resolved. (
Let me also share with you the steps on how to get the recent update that will fix the zero amount for Social Security in Form 941.
First, let's reset update QuickBooks Desktop (QBDT) to clear all previous update downloads. Then, update your payroll to its latest release to make sure that the Social Security amount will reflect on the form.
Here's how to update QBDT:
Once done, you can follow these steps to download the latest payroll update:
Then, open the tax form and check if the Social Security wages already showing up. If the amounts are already correct, you can now file this form to the IRS.
In addition, you can check out our latest payroll news and updates in QBDT Payroll in this article: What’s new in Payroll Update 22013 in QuickBooks?
Don't hesitate to tag my name in the comment section below if you have other concerns or questions. I'm always ready to help.
Hi there, @kmurraycpa272.
You may consider updating your QuickBooks Desktop to the latest release from our official website. I'll guide you how.
Once done, let's run payroll checkup as this helps scan your payroll data for missing information and discrepancies. Refer to this article for more details: Run payroll checkup.
Please let me know if you need further assistance. I'll be around to help. Have a good one.
Yes, the issue is that the 941 form requires a QuickBooks program patch/update, but nowhere is that mentioned in the payroll updates nor are you notified when you run the form that the data sent from QB to the form is in an old format that is no longer sufficient for the form.
Both of these things, to tell customers to update QuickBooks, and to warn them if they don't, could have been implemented by Intuit - the mechanisms exist and they've done it before - but they didn't this time.
To make the form work, patch QuickBooks to the latest release.