We are using GP 2018.
As we are nearing the end of the year and encountering employees meeting their FICA wage limit, I'm having issues reconciling their FICA Social Security Wages to the PAYROLL SUMMARY. GP does not appear to consistently apply the tax-exempt deductions for FICA Social Security Wages when an employee meets their max in a given pay period.
If an employee has FICA Social Security Wages in a pay period, shouldn't all tax-exempt deductions to those wages apply in full, if they are less than the wage amount (as they are in all of my examples)? This doesn't seem to be the case. In my examples, the tax-exempt deductions in question are health insurance premiums (INS125) and short-term disability premiums paid by the employee (STD).
In October, GP correctly applied the FICA Social Security wage exemption for the health insurance premium for an employee who met their max in a pay period (but, still had FICA Social Security Wages). But, it didn't include the tax-exempt deduction for that same employee's STD premium for that pay period.
In November, I had 2 more employees meet their FICA Social Security max. They both had FICA Social Security wages for the first pay period of the month. But, GP is not applying the insurance premium exemption OR the short-term disability exemption to their FICA Social Security Wages.
Please help me understand this!
I have attached the reconciliation file with notes. These numbers are used for our 941 reporting (941 line numbers are referenced in the file), so it's important that they're correct!
OCT22_5F00_NOV22-940_5F00_941-Wage-Reconciliation.xlsx
