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Join nowI have a client who is processing her 1/4/21 paycheck. Some employees (not all) have a YTD amount showing for the Federal, Social security and Medicare taxes. This is the first pay of 2021 so these should not carry over from 2020. The paydate is set to be 1/4/21. What else could be wrong?
Thanks for posting here, @bgoon,
When you process payroll for the new fiscal year, the YTD information should reset also. The only amount to show there should be the current deduction on the check. See this:
If you have a different situation, try to close all the windows and do a payroll update. This way the payroll settings are up-to-date and any issues with the calculation will be avoided.
Once done, try to process payroll again and see if the correct data is showing now. If now, try to check if there are any federal tax adjustments made for those employees dated 2021. This can also cause an incorrect YTD balance in payroll.
Open a Payroll Detail Review report to check any balances for 2021. Multiply the amount in the Wage Base column with the Payroll Tax Rate to get the correct amount.
Here's how:
Please update me with the result. I want to make sure this is resolved and I'm here to provide further assistance. Have a nice day!
We had tried all of that with no luck. Ended up calling support and she had us right click on each employee on the process payroll screen to revert each person and that fixed it.
RE: Ended up calling support and she had us right click on each employee on the process payroll screen to revert each person and that fixed it.
Oh.... that's interesting!
I duplicated this by starting to pay employees with the pay date set to this year. I entered hours for some employees. Then I changed the date to next year. Then when I reviewed the check details in the create paychecks workflow, the YTD appeared to be for this year (which is a bug). However, when I actually created the paychecks (which is what support could have told you to do if they knew how QuickBooks works) the checks came out correct. So, it's basically a display issue that fixes itself.
The same thing happens, only in reverse, if you start with a pay date that is next year and enter hours, and then change it to this year. Then the YTD looks like next year's, but it fixes itself when you create checks.
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