FICA Correction for Election Worker

Question

I know how to make a correction to a FICA deduction for an employee by either doing a FICA refund or an over-collection but how do I make the correction to the EMPLOYER FICA amount?

Beth W · Accepted Answer

Kim Landrum 
 Transaction History utilized for Editing/Entering employee payroll history data values for: 
 
 Accruals 
 Advances 
 Benefits 
 Deductions 
 Earnings 
 Expense Reimbursements 
 Taxes 
 Make changes or adjustments to historical data any time after setup 
 
 To enter or edit historical data: 
 
 Navigate to Payroll, Tasks, Transaction History 
 Use the navigation buttons/Finder to find and select the employee record needed 
 At the Date field, enter the date value you need to enter balances (Note: These amounts can be for any period of time you choose: quarterly, monthly, year-to-date) 
 Choose the payroll code values needed and complete the fields that apply to all the historical amounts you need. You have to check the report to see if the field is overwritten or amended. Taxes are amended so math has to be done to calculate the correct number to add or deduct. 
 Select Add to finish the process 
 
 NOTE: The ceiling wage and no ceiling wages will need to be adjusted for the information to show on the W-2 and the tax calculation analysis. 
 To be able to edit no ceiling wages for local taxes, you will need to access the local tax within Setup, Payroll, and Local/Other Tax Codes. Select the local tax code and click on Calc Base Tab and enter an amount for the Annual Maximum Earnings and Annual Minimum Earnings. This will allow you to enter the no ceiling wages when creating the transaction history record. This will flow to the W2 and the Tax Calculation Analysis report. 
 On federal or state tax codes you can only edit ceiling wages or no ceiling wages if that type of wage applies to the tax. Example: The USFIT does not have a ceiling wage because there is no limit to this tax, so an edit can only be made to the no ceiling wages. 
 To update the Deduction amount, Update the Employee Extended Amount field to update the Employee Base Earnings/ Deduction Base amount 
 To update an employer portion of a deduction or benefit, use Employer Extended Amount. 
 Additional Information: 
 Before and after saving the Transaction History record run reports, using the date range of the entire year, to display the current values and the values after the adjustment: 
 
 For Earnings and Deductions, run the Transaction Report, Earnings/Deduction Summary 
 For the Taxes, run Tax Calculation Analysis 
 
 If this response has helped, please consider marking it as a verified answer.

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FICA Correction for Election Worker

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