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A
AW1972
April 3, 2024
Question

OESC quarterly tax rate

  • April 3, 2024
  • 1 reply
  • 0 views

I submitted my quarterly OESC report on the OESC website today and the amount due does not match what is owed in my quickbooks liability.

In the past, it's usually not enough, so I write a separate check to cover the extra.  But this time the amount due in QB liabilities is more than $2,000 over the amount due on the OESC website.

 

This has never happened before, so i'm not sure how to deal with it when QB shows more due, than the OESC does.

 

I would also like to point out that in my QB it shows our UI tax rate at 1.8%, but on the OESC report it says our contribution rate is 0.3%. Should those two percentages match? Is that the issue?

 

I have never had an issue with the tax rates not being correct in QB, so I rely on those to be correct and have never had to manually change one.

 

Please help!

1 reply

S
SarahannC
April 3, 2024

I appreciate you considering QuickBooks Community to help you with the quarterly tax rate. I'll make sure to get this fixed, AW1972.

 

Yes, the tax rate in the QuickBooks user interface and the OESC report rate should be the same. However, because they don't match, it's causing a discrepancy.

 

To correct this one, you can manually adjust the tax rate by opening the item, as updates usually don't include UI rates. This ensures accurate data in the future. Here's how:

 

  1. In QBDT, go to the Lists menu at the top.
  2. Select Payroll Item List in the drop-down.
  3. Double-click the state.
  4. Enter the correct rates.
  5. Hit Next. Then, Finish.

 

To correct the error in your previous data, create a negative adjustment for the employee's liability. Here's how: 

 

  1. Go to the Employees menu.
  2. Choose Payroll Taxes and Liabilities and select Adjust Payroll Liabilities.
  3. Make sure to select the item and enter the amount in negative.

 

To match the tax rate in QuickBooks Desktop with your state's website, manually prior payments in QuickBooks Desktop payroll. This way, you can record payments with actual ones and fix any discrepancies.

 

You can also visit this article for tips about viewing your payroll taxes and contributions: Create a payroll summary report in QuickBooks.

 

Feel free to reach out again if you require further assistance correcting tax rates or anything related to QuickBooks Desktop (QBDT) Payroll.

A
AW1972Author
April 4, 2024

Thank you for the info!

 

I just have another question, because I have never had to do a manual adjustment on any tax rates in my QB before.  I have always relied on QB to have accurate rates for me, do you know why this happened? 

Do I need to change this manually everytime our UI contribution rate changes?  Now I question if all of my payroll tax rates are correct. 

 

Also, I did do a forced update on my QB yesterday before doing my quarterly report.

 

Thank you!

 

K
Kevin_C
April 4, 2024

Welcome back to this thread, AW1972. I'm delighted to provide additional information about how QuickBooks Desktop (QBDT) updates payroll tax rates.

 

First off, it's great to know you have updated your QBDT to the latest release before doing your quarterly report. I encourage you to keep on performing this so you'll always have the latest features and fixes.

 

Regarding your concern, you're right that QBDT will make sure you have accurate rates and calculations for federal and supported state taxes, payroll tax forms, and e-file and e-pay options through tax table updates. However, please note that State Unemployment Insurance (SUI) rates aren't part of the normal tax table updates. Thus, you'll have to make changes or update it manually.

 

You can follow these steps if you need to update some of your SUI rates:

 

  1. Go to the Lists menu and pick Payroll Item List.
  2. Double-click [state abbreviation] - Unemployment Company.
  3. Click Next until you reach the Company tax rates window.
  4. Enter the correct rates for each quarter.
  5. Tap Next, then Finish.

 

For more details about this process, you can read through this article: Update your State Unemployment Insurance (SUI) rate.

 

On the other hand, if you need to file your state forms and pay your state taxes manually, see Pay and file payroll taxes and forms manually in QuickBooks Desktop Payroll.

 

If you have further questions or concerns about managing your payroll tax rates in QBDT, please don't hesitate to let me know. We are available 24/7 to answer all of them. Have a great day ahead!

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