I'll be glad to share some more insight to help your way around QuickBooks. If you have additional questions about payroll or Worker's Comp, let me know in the comment. To log a suggestion to our developers for estimates, go to the Help menu and select Send Feedback Online.įor now, you can use the liability adjustment option if you want to correct this penny differences. Having the option to change this preference is a brilliant idea. Did you know that you can also take part with our product enhancements? We want your voice to be heard and be put in action. For more details about this, you can check out this article: Rounded numbers cause discrepancies in tax calculations. It is a default function in QuickBooks to automatically round off amounts to have a flat rates to avoid discrepancies.
You and the employee don't need to be concerned about these small variations.įor now, the option to turn off rounding with the Worker's Comp amount is currently unavailable. Our system ensures that the employee's YTD totals for those taxes are always exactly correct. These differences are due to rounding for taxes that are calculated at exact rates (such as Social Security and Medicare). We appreciate you joining this forum and sharing your insights, may notice that QuickBooks changes tax amounts by a few pennies, even though there are no changes to the employee's pay rate, tax setup, or deductions.
