Is there any documentation explaining what all of the options are on the payroll company tax settings? I’m specifically looking for an explanation of what the “Rounding Option: Set to True to round calculations” for the FED payroll tax.
Best answer by Denise Johnson
View originalDenise, would the rounding option for FED only round the Federal income tax or all federal taxes, including medicare? We have a customer who says the last two payroll runs that the system started rounding medicare on top of the federal income taxes, so they had to turn off rounding all together.
I’m able to replicate this as well in their test tenant. They are on Acumatica 2020 R2
Build 20.210.0044.
Thanks for the quick reply Denise. I’m looking for an explanation on the Rounding Option setting for Fed (see below).
Yes, that’s perfect. Thank you!
Did anyone get a solution to the FIT and MEDI rounding issue?
Yeah, I needed FIT to stay rounded, but MEDI NOT to be rounded. Which is how it used to be. I guess we will just not round FIT like the person previously if the only option is both FIT & MEDI or neither.
Hello
Thank you for your question in the payroll community.
We have this type of documentation now available in the latest release, 21 R1 where we’ve added two new columns in the Company Tax Settings tab. Additional Information will explain exactly what is needed to fill in the proper settings. The Form/Box column will explain where the information will be used or where it can be pulled from.
If there is a specific column you have question on - please let us know. Your Acumatica support partner can assist as well.
Thank you,
Denise
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