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craigswfl

Question on OASDI and MED amounts shown in Payroll Register and PAyroll expense ac.

Posted By

I was reviewing the Payroll Register and checking payroll expense amounts in the ledger.

Per Payroll Register

Salary $3 971.23 OASDI amt $246.21 ($3 971.23*.062)

Salary $3 971.23 MED amt $57.58 ($3 971.23*0.0145)

Posting per Payroll Expense account

OASDI amount (?) $ 246.21

MED amount (?) $91.95

Why aren't the amounts the same, i.e. the OASDI amount shown in the Payroll Register the same as the amounts shown in the PAyroll Expenses account?

Am I missing something or reading something into this that should not be read into it?

  • 0

    check the entries to the payroll expense account to see if they all came from the payroll module. Make sure there were no entries from GEN journal that would not have gone thru the payroll module.  Also may want to check the payroll verification report on the Payroll utilities menu.  See if there are any inconsistencies related to OASDI or Medicare

  • 0 in reply to CShular

    Neither of the above. There were no GEN journals in the account and the payroll verification threw up 0 inconsistencies found.

    Did some digging and found the following. There were two pay amounts, one reg income and one commissions. The systems calculates the FICA and MED on each amount separately and posts the total 7.65% for the reg amount and the commissions account. I should have been smarter and did the individual calcs and not done the calc on the total amount paid before posting the question..  

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