The Federal Tax Values are used to calculate the federal tax deductions during “Payroll Hours Entry” (9.1.3).

Review this table every year and compare with the new year’s tax values.

The Employer Tax ID Number is the identification Number assigned to your company by the government.

The Federal Tax ID Number printed on the 1099-Misc in “Print 1099-Misc for Vendors” in Vendors in ACCOUNTS PAYABLE (7.6.7) is taken from this field. You must enter a number here even if the Payroll program is not used.

The following General Ledger account numbers will be needed for the Federal Tax Values: Federal Withholding Account, Employee Social Security Liability Account, Employer Social Security Liability Account, Employer Social Security Expense Account, Employee Medicare Liability Account, Employer Medicare Liability Account, Employer Medicare Expense Account, Federal Unemployment Insurance (FUI) Liability Account and Federal Unemployment Insurance (FUI) Expense Account.

The following percentages will be needed:  the flat rate percentage for the Federal Withholding Tax on Supplemental Earnings;  the percentage for the employee’s share of Social Security; the percentage for the employer’s share of Social Security;  the percentage for the employee’s share of Medicare Tax; the percentage for the employer’s share of Medicare Tax; the percentage used to calculate the employer Federal Unemployment Insurance (FUI).

The following wage information will be needed: current Federal Minimum Hour Wage;  and the maximum wage upon which Social Security tax, Medicare, and Federal Unemployment Insurance will be withheld.

The Subtotal on W2’s is the number at which to subtotal the W2 forms, as they are printed. Usually after the 41st W2, the government requires you to print a subtotal. Please check with the current W2 instruction sheet to confirm this number each year.

You have the option of not printing a subtotal W2. Remove the subtotal value (usually 41) in the field by pressing the <CONTRL> and <C> keys at the same time. Be sure to Save at the “Enter Selection” prompt.

You may save the information for just the Location entered or copy it to all of your Locations.