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May 5, 2024
Question

I calculate SS by multiplying gross wages by 6.2% and Med by 1.45%. Your system is doubling the amount

  • May 5, 2024
  • 1 reply
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Why are your calculations different for SS and Med?

1 reply

May 5, 2024

I can explain why you're seeing a different amount for your Social Security and Medicare in QuickBooks Online (QBO), @phyllisdala.

 

Calculations will differ if you've missed a payroll and created it later after submitting the payroll for the current pay date. You'll see that the amounts on the previous payroll are larger compared to the amount for the current pay date.

 

The year-to-date amounts will appear on the most recent paycheck created, not on the recent pay date.

 

Moreover, there's no option for QBO to adjust the amounts on a paycheck. I'd recommend running a payroll report to verify the employee's accurate year-to-date amounts.

 

If you didn't miss a payroll, I'd suggest reaching out to our Contact Support team. They have the necessary tools to uncover what's causing the amount to double up. Here's how:

 

  1. In your QBO company, select Help (?).
  2. Choose Contact Us.
  3. Enter your concern and click on Let's talk.
  4. Select a way to connect with us:

 

  • Start a chat with a support expert.
  • Get a callback from the next available expert.

 

Additionally, you can browse this article to give you tips on how you can get totals for wages, deductions, and taxes for each employee you've paid in the current year: Learn about reports to use to enter prior payroll.

 

Please don't hesitate to add a Reply below if you have additional questions about payroll calculations or anything about QBO. My team and I are always ready to help. Have a good one.