Sage Abra Suite Payroll

Record and Deposit Tax Liability Sage Abra Suite v9.0x or v9.1x

After the payroll process is finished, Sage Abra Suite payroll enables you to record your tax deposit information. The tax deposits are required to support the Form 941 at the end of the quarter. To perform this function, the following steps must be done:

1. From the Navigation Pane, select Payroll>Process Payroll>Record & Deposit Tax Liability. If you have more than one employer, select the appropriate Tax Payer ID and click OK.
2. The system will search for all liabilities that have not yet been deposited. The search is done by the specific Payment Types: Form 940, Form 941, etc. Each time it finds undeposited tax liabilities for a payment type, the system asks if you want to transfer the liabilities to deposits.
• If you click 'No' or 'Cancel', the system does not transfer the deposits for the payment type, but continues to search for other undeposited liabilities.
• If you click 'Cancel', the system does not transfer the deposits for the payment type and stops the search for undeposited tax liabilities. The Record & Deposit page then opens.
• If you click 'Yes', you must establish a tax deposit period for the liabilities for the specific payment type.
• To define a deposit period: From the drop-down list, select the deposit method, which will be one of the following:

Credit - enables the system to provide the ACH credit payment with remittance detail to the ODFI
Debit - enables you to transfer the federal tax deposit information directly to the Treasury Agent
Same Day - in certain cases, the tax liability may be greater than $100,000. In this case, the depositor can use Fedwire, which is the Same Day settlement
Other - This makes tax deposits directly through the Federal Tax Deposit Coupon system. The depositor must take the deposit and the paper coupon to an authorized depository bank before the close of business on the deposit due date.
3. In the Deposit Due Date field, enter in the date that the deposit must be paid
4. For the Period Start, enter in the start date of the deposit
5. For the Period End, enter in the end date of the deposit
6. The sequence number will start as a zero. If the tax deposit file is created, the sequence number will increment by one. In addition, using the Tax Deposit File creation process, it will not allow the deposit to be undeposited. (Any sequence number of one cannot be undeposited.)

If it is necessary to make any changes to a deposit period and you do not use the create Tax Deposit File creation, you can Undeposit the liabilities and make the changes. To Undeposit Liabilities:

• From the Record & Deposit Tax Liability page, click the Deposit Periods button.
• Find the deposit period that you want to adjust by using the Previous and Next buttons.
• Select the Undeposit button. This will allow you to transfer the un-deposited tax liabilities to another period.