Where the Quarterly 941 pulls data from

Where does the Quarterly 941 pull it's numbers from?

• Payroll

• Quarterly 941 report

• Employee Accumulators

The Quarterly 941 Report pulls the total gross wages from the Quarterly Employee Accumulators. 

1. Go to Accumulators Report (Payroll>Employee History>Accumulators Report)

2. Search for the Year, Deduction and frequency of Q for quarterly and cycle 1-4 (Example, 1 would be quarterly total for months January, February and March, etc.). Click Accept.

3. Click Excel in the toolbar. Then total the Employee Gross column. It should match the total gross wages on the 941. 

   1. Example:

      1. In Accumulators Report, Search on Deduction 1000 for FICA, Year 2022, Frequency Q, Cycle 1. Click Accept.

      2. Click Excel and export the data to Excel. Find the SUM of the Employee Gross. That amount should match the FICA-Gross-Wages on the 941 for FICA for Q2 in 2022.

The Q941 then takes the gross wages and multiplies it by the applicable percentage to calculate the withholding taxes:

• FICA-Gross-Wages get multiplied by 12.4% (6.2% for Employee and 6.2% for Employer) to find the total withholding.

• Medicare is 2.9% (1.45% for Employee and 1.45% for Employer).

• FIT-Withheld total is the sum of the Employee Amounts from the Quarterly Accumulators.

Unlocking the Secrets of Quarterly Reconciling