Paying Payroll and Sales Taxes

Paying Payroll and Sales Taxes

After paying your employees, the next most important thing to find out is how much you owe the government in payroll taxes and sales tax. To do this select Taxes from the Payroll menu.  

Field Labels 

Taxes        The name of the taxes to be paid. 

Owed                The amounts owed for each tax. 

Pay                 The amounts you want to pay. 

Pay To        The agency the checks are made out to. 

G/L Code        The ledger account code associated with the tax. 

Taxes 

FIT                Federal Income Tax. 

FICA                Social Security Tax. 

Medicare        Medicare Tax. 

FUTA                Federal Unemployment Training Association. 

SIT                State Income Tax. 

SDI                State Disability Insurance. 

L & I                State Labor & Industry. 

SETF                State Employment Training Fund. 

SUI                State Unemployment Insurance. 

CIT                City Income Tax. 

Sales Tax        Retail Sales Tax. 

Service Tax        Service Sales Tax. 

Pre - Tax 1 - 3 Gross payroll deduction. 

Taxable         Net payroll deduction. 

Deductions 1 -3 

Who To Pay: 

Before paying any taxes you have to tell Unique the agencies to pay the taxes to. To set this up, select Edit from the Payroll Tax menu .  

You can now edit the Pay To and G/L Code fields. Enter the proper tax agency for each tax category and the ledger account code for the tax. To get a listing of the different ledger account codes, select the F1 button key. 

How Much To Pay: 

To pay your taxes you must first find out how much you owe. To do this, select Pay/Closing Tax Date from the Payroll Tax menu . You are asked to enter the starting and ending dates for your taxes.  

Enter the dates through which you want to pay your taxes. For example, if you wanted to pay all your taxes owed for the month of March you would enter a starting date of 03/01/00 and a ending date of 03/31/00 . Unique first searches through the employee withholding history file for all the taxes owed for the month of March. It then searches through the checking account to find all the tax payments that are posted in March.  

The totals for each tax are then displayed next to their respective headings. If you owe money to the government, the tax total is a positive number. If you have paid more than was owed, the tax total is a negative number. 

The amounts owed for each tax are automatically entered into the Pay field for each tax and you are allowed to edit the amounts. You can accept the full amounts or enter the amounts you want to pay. If you do not want to pay a certain tax, enter a 0 (zero) for the pay amount.  

If you want to re-edit the Pay amount fields, select Pay/Edit Current Display from the Payroll Tax menu . This will let you edit the Pay amount fields without having Unique recalculate the amounts owed again. 

Issuing Checks: 

To issue checks for each tax, select Checks from the Payroll Tax menu. The effect the payment will have on your checking account is displayed. You are asked to enter the starting check number and if you want Unique to print checks. If you want checks printed, put the check forms in you printer and tell Unique you're ready. 

A single check is issued for each tax that has a positive amount marked for payment. An entry is made in the checking account for each check with today's date. The checks are made out to the agency entered under the Pay To field.