This page (revision-15) was last changed on 26-Nov-2021 10:22 by rforbes

This page was created on 26-Nov-2021 10:22 by JMyers

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3 26-Nov-2021 10:22 1 KB JMyers to previous | to last Federal Quarterly Reporting - Form 941 ==> FEDERAL_ QUARTERLY_ REPORTING_FORM_941
2 26-Nov-2021 10:22 1 KB JMyers to previous | to last Federal Quarterly Reporting ==> Federal Quarterly Reporting - Form 941
1 26-Nov-2021 10:22 1 KB JMyers to last

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Incoming links Outgoing links
FEDERAL_ QUARTERLY_ REPORTING_FORM_941
FEDERAL_ QUARTERLY_ REPORTING_FORM_941

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At line 1 changed one line
[{TableOfContents }]
Form 941 – Employer’s Quarterly Federal Tax Return is a hard copy that the user must complete manually. The following are the steps recommended by High Line to add in completing the form.
View Pay Run Information Line 1 - # of Employees
Use the total of the ‘Employees’ field on IPVP from all of the pay runs that qualify for the data on the F941 to be completed.
i.e. pay period that included 12-Mar-2001
Define Elements
Create an element on IPPE that contains all of the PC that need to be reported. Below is a list of the pay components that could be included. Your company may not require all of them or may require others.
Line 2 – Total Wages
Fed Taxable Wages PC Usage 6004
Fed Supp Wages PC Usage 6005
At line 3 changed one line
!!!FORM 941 - EMPLOYER'S QUARTERLY FEDERAL TAX RETURN
Line 3 – Total Tax
Fed Tax PC Usage 6001
Add. Fed Tax PC Usage 6002
Supp Fed Tax PC Usage 6003
At line 5 removed 26 lines
The Form 941 – Employer’s Quarterly Federal Tax Return is a hard copy that must be completed manually. The following are the steps recommended to aid in completing the form.
!!Define Elements
Create an element in [IPPE] (941 REPORT) that contains all of the PC's that need to be included in the report. Below is a list of the pay components that could be included. Your company may not require all of them or may require others.
\\ \\
||Description||PC Usage|| PC Code|| 941 Line
|Fed Taxable Wages|6004| |2
|Fed Supp Wages |6005| |2
|Fed Tax|6001| |3
|Add. Fed Tax |6002| |3
|Supp Fed Tax |6003| |3
|FICA Wages |6202| |6
|Medicare Wages|6502| |7
|FICA Tax EE|6201| |8
|FICA Tax ER |6210| |8
|Medicare Tax EE|6501| |8
|Medicare Tax ER|6503| |8
|EIC PC|6101| |12
Line 2 – Total Wages \\
Line 3 – Total Tax \\
Line 6 – SS (FICA) Wages \\
Line 7 – Medicare Wages \\
Line 8 – Total SS and Medicare \\
Line 12 - EIC \\ \\
At line 23 added 2 lines
Line 6 – SS Wages
FICA Wages PC Usage 6202
At line 33 changed one line
!!View Pay Run Information
Line 7 – Medicare Wages
Medicare Wages PC Usage 6502
Line 8 – Total SS and Medicare
Fica Tax EE PC Usage 6201
Fica Tax ER PC Usage 6210
Medicare Tax EE PC Usage 6501
Medicare Tax ER PC Usage 6503
At line 35 changed 35 lines
!Line 1 - # of Employees
For the quarterly report, there is a requirement to count the number of employees in the pay period that contains the 12th. (i.e. MArch 12 for the first quarter). \\ \\
* Open IPVT
* Enter Query Mode
* Select "Closed" for the Stage and enter the pay period that includes March 12 into the Period field.
* Execute the query
* The number of employees processed will be displayed in the Employees field. \\ Use this number for line 1
\\
!!Produce Pay Totals Register
!Lines 2, 3, 6, 7, 8 and 12
Run RPREGT for the current quarter using the parameters below.
\\ \\
__Todate Type:__ Quarter – this will select the quarter-to-date totals. \\
__Starting and Ending Dates:__ Use the first and last day of the reporting quarter. \\
__Register Sort Element:__ ‘941 REPORT’ to only select the amounts required. \\
__Filters:__ Do not use any filters for 941 purposes.
\\ \\
RPREGT is the ‘todates’ register that can report the month-to-dates, quarter-to-dates, and year-to-date totals. The 941 REPORT element was defined to sort the register to the required amounts.
\\
\\
The report will print the details for each employee, this is for balancing purposes if required. The data for the 941 form will come from the totals page.
\\
\\
!Balancing
;:%%information It is recommended that you run this report to a file and save it.
At the time of completing the current quarter, run the RPGEGT for the previous quarter and compare it to what was submitted on the 941 form for the previous quarter to obtain the data required for the Adjustment lines (4 and 5) for the current quarter.
\\
These adjustments could be for previous quarter payrolls processed after the 941 was completed.
----
![Notes|Edit:Internal.FEDERAL_ QUARTERLY_ REPORTING_FORM_941]
[{InsertPage page='Internal.FEDERAL_ QUARTERLY_ REPORTING_FORM_941' default='Click to create a new notes page'}]
Line 12 - EIC
EIC PC Usage 6101
Produce Pay Totals Register
User may now run RPREGT using the element created to obtain information to aid in completing the F941 form.
This page (revision-15) was last changed on 26-Nov-2021 10:22 by rforbesTop