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Anonymous
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NY SDI Disability Payment-DESKTOP not ONLINE

Am I doing this wrong? I have it set up so that $.60 is taken each week out of the employees paychecks. At the end of the year, I have a liability payment but I don't pay NY directly for this. I have a disability insurance policy, which when I pay that it's more than what is in quickbooks. How do I get rid of this liability or how can I record it with the payment that I make to the insurance company for disability?

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Best answer 06-17-2019

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Anonymous
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Re: NY SIF Disability Payment

I have another way on how to record your tax payment, agpaving. 

 

You'll want to create a prior payment. This way, it will not affect your checking account. 

 

Let me show you how: 

  1. Click Help, then choose About QuickBooks.
  2. Press Ctrl+Alt+Y to open the Set up YTD Amounts window.
  3. Click Next until you get to the Enter prior payments section. 
  4. In the Enter Prior Payments window, select Create Payment.
  5. Choose the right Payment Date and For Period Ending date. 
  6. In the Taxes and Liabilities section, choose the correct payroll item (New York Disability).
  7. Click the Accounts Affected button, then choose Do not affect accounts. 
  8. Click OK. 
  9. Review the information. Click Done, then Finish. 

I'll show you how it looks: 

 

Prior Tax Payment

 

You might also want to visit our Payroll Year-end checklist. 

 

Leave a comment below if you have more  questions about payroll taxes. 

View solution in original post

3 Comments
Moderator

Re: NY SIF Disability Payment

Hi there, agpaving.

 

You can record the payment you made outside QuickBooks by creating a check through the Create Custom Payments window. I'm here to help and guide you through.

 

QuickBooks Desktop automatically creates items for the New York SDI employee and company contributions. The employee's rate is automatically setup to .5% of their gross pay and not to exceed $.60 a week. Meanwhile, you'll have to enter the company's rate provided  by the carrier.

 

Please know that QuickBooks automatically stops calculating amounts over $.60 a week. You may refer to the following information for the proper deduction limit per period.

 

Payroll Schedule          Deduction Limit per period

 

  • Daily                                   $0.14
  • Weekly                               $0.60
  • Bi-Weekly                          $1.20
  • Semi-Monthly                   $1.30
  • Monthly                             $2.60

To record the payment, please follow these steps:

  1. Go to Employees and choose Payroll Center.
  2. In the Pay Liabilities tab, click on the Create Custom Payment link under Other Activities.
  3. Set the date.
  4. Select the NY-Disability Employee and Company.
  5. Click on Create.
  6. Review the information and choose Save & Close.

I've attached some screenshots below to help you with the process.1.PNG

 

2.PNG

 

3.PNG

 

4.PNG

 

5.PNG

On the other hand, you can also run the Payroll Detail Review report to see the detailed information about how QuickBooks calculates tax amounts on employee's paychecks and in year-to-date transactions.

 

Here's how:

  1. Go to Reports and choose Employees & Payroll.
  2. Select Payroll Detail Review.
  3. Set the date and click on Customize.
  4. In the Filters tab, look for Payroll Item and click on it to highlight.
  5. Under Payroll Item drop down, choose Multiple payroll items.
  6. Mark to select NY-Disability Company and Employee and click on OK.

Now, multiply the employee's total Wage Base by the NY-Disability rate for employee and company. Then, verify your calculated amount if it matches in the Amount column on the report.

 

If your calculation did not match, you'll need to correct the employee's or company's year-to-date total by entering a payroll adjustment in QuickBooks.

 

For further guidance, refer to this article: Adjust payroll liabilities.

 

Please let me know if you have any questions. I'll do everything I can to answer them.

Anonymous
Not applicable

Re: NY SIF Disability Payment

Thank you for your response. I don't want the payment to affect my checking account because I already made that payment to the company that we use. 

Highlighted
Anonymous
Not applicable

Re: NY SIF Disability Payment

I have another way on how to record your tax payment, agpaving. 

 

You'll want to create a prior payment. This way, it will not affect your checking account. 

 

Let me show you how: 

  1. Click Help, then choose About QuickBooks.
  2. Press Ctrl+Alt+Y to open the Set up YTD Amounts window.
  3. Click Next until you get to the Enter prior payments section. 
  4. In the Enter Prior Payments window, select Create Payment.
  5. Choose the right Payment Date and For Period Ending date. 
  6. In the Taxes and Liabilities section, choose the correct payroll item (New York Disability).
  7. Click the Accounts Affected button, then choose Do not affect accounts. 
  8. Click OK. 
  9. Review the information. Click Done, then Finish. 

I'll show you how it looks: 

 

Prior Tax Payment

 

You might also want to visit our Payroll Year-end checklist. 

 

Leave a comment below if you have more  questions about payroll taxes. 

View solution in original post

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