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dhoneycutt-chart
June 20, 2024
Question

Medicare taxes

  • June 20, 2024
  • 1 reply
  • 0 views

How can an employee's Medicare deduction be corrected in Quickbooks? Pay was manually calculated and paid based on the rate of 1.45%. The manual calculation was $0.01 less than the calculated amount when the payroll was run in QuickBooks. 

1 reply

J
JoanaC
June 20, 2024

Welcome to the QuickBooks Community, Dhoney. Let me assist you in correcting your employee's Medicare. 


It's important to note that small variations in tax (Medicare or SS) calculations may occur due to rounding. These differences arise because precise rates are used to calculate taxes like Social Security and Medicare. QuickBooks (QB) guarantees that the year-to-date (YTD) totals for these taxes are always accurate, so employees don't need to be concerned about these minor discrepancies. If the payroll you've run is a paper check, we can delete and recreate it with the corrected amounts. Here's how:

 

  1. Go to Payroll, then Employees.
  2. Choose Paycheck list.
  3. Select the paycheck you'd like to delete, then select Delete.
  4. Hit Yes.

 

For more guidance, you can refer to this article: Why do I occasionally notice penny rounding differences?.

 

However, if you processed it via direct deposit, we will need to contact our payroll support team, as they can pull up your account in a secure environment and correct the deduction.
 
For more details in modifying and managing your employee deductions, check out this link: Set up, change, or delete employee-paid payroll deductions. 
 
Moreover, I'd like to share this article to assist you in filing your payroll taxes: Pay and file payroll taxes and forms electronically in QuickBooks Online Payroll.

 

Keep me posted if you still have questions about your Payroll setup. Have a great day.

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