Hello, I use QB Desktop payroll. I updated several values for medical insurance and SEP IRA for the new year using the payroll setup. When I check the values under "Payroll Items", they are all correct for all items that have changed. But when I create the paychecks, last year's values are still populated in the paycheck. I have installed the latest payroll update. Thanks for any help!
I appreciate your time and effort in installing the latest payroll update to fix the incorrect calculation of payroll items in the paycheck, @vivlund.
I want to ensure the values of the insurance payments and retirement contributions populate correctly in your paycheck.
One of the possible reasons why the updated values of your payroll items aren't populating correctly on the paycheck is that the amount entered on your employee's profile for that specific payroll item is different. You'll want to review the amount of the payroll item showing on your employee's profile. Here's how:
If they aren't the same, update the amount and rerun your payroll. However, if the amounts are the same, you can revert the paycheck to calculate the correct values.
You may also want to read this article: QuickBooks Desktop calculates wages and/or payroll taxes incorrectly. This will help you determine the source of payroll tax calculation errors and provide steps on how to fix these errors.
Come back to this post and let me know how it goes, @vivlund. I want to make sure you're taken care of.
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