Federal taxes payable

Fund Accounting, Accounts Payable, Accounts Receivable, Payroll

Moderators: Moderators, Tech Support

Post Reply
Justine Loker
Posts: 53
Joined: Tue Aug 23, 2005 9:55 am
Location: Orchardville Church, IL
Contact:
Contact Justine Loker

Federal taxes payable

Post by Justine Loker »

We started using Powerchurch in September 2005. We started using the Payroll sometime in October. The problem was that I failed to include the employer Social security and Medicare match on the payroll. I would like to know how to straighten this out. I have closed out the month of December and didn't make any closing entries. : ( On my balance sheet, I have a negative amount on Federal taxes payable and a possitive amount on state taxes payable. Should they both be negative? Does anyone have any suggestions on what I can do to get back on track for the 2006 year. If you don't want to take the time to type I will gladly call you. Thanks.
Top
Post Reply

Return to “Accounting”