Denver Business Daily

Taxable earnings: How is that reported on the payroll? What are the numbers that are shown on the payroll regi

The payroll register shows the earnings of employees for the time period. How will the employer record the different amounts and what is his responsibility in employers taxes? If the pay period is number 20, how do I record the taxable earnings for FUTA & SUTA? I really do not understand the 5.4% that is required to be distracted. What is the amount for SUTA in this case? What employees are required to pay all this? Please, heeeeeeeeeeeelllppp!!!!!!!!!

Public Comments

1. You don't record the taxable earning anywhere. The taxable earnings are used to compute your FUTA and or SUTA liabilities. So from your question, it sounds like you trying to journalize the entry. You only would journalize the actual tax due. The FUTA and SUTA earnings are needed when the tax returns are filed. SUTA returns are quarterly and FUTA returns are annual. There is nothing to subtract from anything. Your payroll register shoul give you the exaxt amountof tax to create the journal entry. Thisis assuming your SUTA rate is in the payrollsystem, if it is not then multiple your rate by the taxable earnings to arrive at the tax due.