Knowledge Base

12334: Using the Tax Deposits Screen (CWU)

CWU 94x

CWU: How can I use the Tax Deposits screen?

If you expect to make one or more tax deposits before you actually file a 94x form itself, you can use the Tax Deposits screen to create the payment information from payroll in CWU, adjust it for proper taxable and payment amounts, and save it for when you actually make the payment outside of CWU (the Tax Deposits screen records, but does not make payments).

If you use the Tax Deposits screen, you should

  • use it for the entire reporting period
  • and generate 94x reports from the Tax Deposits screen, not from Employees > 94x Forms.

When a Tax Deposits screen is saved, CWU records the tax deposit as having been made. If the saved Tax Deposits screen included adjusting entries, the recorded deposit and its components may not match what would otherwise be computed from recorded payroll until you adjust payroll to conform. After using the Tax Deposits screen, if you create 94x forms from Employees > 94x Forms, discrepancies may appear.

Use the Tax Deposits screen to create a 94x form for filing that incorporates the saved tax deposits information.

CWU records, but does not make the tax deposit. You must make the actual deposit (see "Electronic Fund Transfer Required for Federal Tax Deposits (CWU)" in Related Links below).

Tax deposit payments must be made electronically via EFTPS, or another IRS-approved payment method. Refer to the IRS’ webpage Depositing and Reporting Employment Taxes.

Topics covered by this article.

Setting up CWU for 94x Tax Deposits

Open the Client Setup screen and go to the Business Information tab (Setup > Client Information > Business Information).

Based on how the IRS requires your client to deposit and report employment taxes, select your client’s deposit schedule as Monthly or Semi-Weekly from the Deposit Frequency drop list.

  • Generally, for Form 941, a Monthly depositor would make three deposit entries each quarter: either three before the filing of the form itself, or two before the filing and the third with the filing.
  • Semiweekly depositors generally have 3 days to make a deposit after a payday. Therefore, for Form 941, more deposit entries per quarter will likely be recorded.

If you change anything on this screen, remember to click Save after making the change.

Open the Form 94X Options Screen (Setup > 94X Form Settings).

For any form for which you will be recording tax deposit information, all available options are in the section indicated for that specific form. For example, if you will be recording tax deposits for Form 941, select options only in the section Form 941/941-PR.

Use Tax Deposit Information on… - Select this option if you will be recording tax deposits.

Override Sch. B Printing - Use this option to force Schedule B.

Override Calculated Data - CWU takes any existing payroll records for the filing period selected and calculates appropriate totals when you open the data entry screen. Select this option to prevent CWU from recalculating any total or subtotal line on the return when you change data on the screen.

Click Save to save any changes.

Inappropriate calculation on a Form 94x can result from inappropriate selection of any of these options for that form.
- When the Tax Deposits screen is being used, at the very least the Use Tax Deposit Information on… box should be selected.
- When the Tax Deposits screen is not being used, all Form 94X Options Screen options for that form should be cleared and the screen saved.

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Creating 94x Tax Deposits

Open the Tax Deposits screen for the desired form (go to Employees > Tax Deposit and select the appropriate 94x form). The example below shows the 941 Tax Deposits screen:

Until current forms are released for the filing season, deposit calculations for annual 94x forms are based on rates used on previous year forms. The IRS usually finalizes annual forms late in the calendar year, as late as November or December.

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Adding a 94x Tax Deposit

  1. Enter the Beginning Check Date (date which will begin the search for pay checks), the Ending Check Date (date which will end the search), and the Payment Date (date the deposit will be paid).
    • It is important to enter the appropriate dates. If, for example, a prior year is entered as part of the Payment Date, the amounts saved for that tax deposit will not be included on the form generated during the current year.
  2. Indicate which date will be used for including amounts on the report – Use Beginning Period Date, Use Ending Period Date [recommended], or Use Payment Date (the date the tax deposit will be made).

    This selection determines where the tax liability will be reported on the Schedule B (if generated). If the Use Beginning Period Date is selected, CWU will print the entire liability amount on the first day of the month. If the Use Ending Period Date is selected, CWU will print the entire liability amount on the last day of the month. If the Use Payment Date is selected, CWU will print the entire liability amount on the date showing as the Payment Date.

    If you want the Schedule B to show the actual date the liability was incurred, the Tax Deposit screen cannot be used to generate the form. Instead, print the form for a reference of the tax deposits entered and go to the setup Form 94X Option Screen (Setup > 94X Form Settings). Clear the Use Tax Deposits… option for the form and save the screen. Go to Employees > 94X Forms to generate the Form 94X with the Schedule B the way you want it. Before saving the form, use the printed reference of tax deposit data to enter all amounts appropriate to the deposits made. (Saved tax deposit information is not present in a 94x form created this way.)

  3. Click Calculate.
    • In the example above, the 941 Tax Deposit Calculation section would show calculated totals from all paychecks with a Check Date on or within the search range from Beginning Check Date to Ending Check Date.
  4. Adjust amounts as needed to total the correct Amount Deposited. (Amounts associated with labels displayed in blue can be changed.) Leave the field by pressing Tab (or click the next field) to prompt CWU to recalculate based on the change made.
    • The Federal Wages and Federal WH amounts can be changed; but nothing will be recalculated.
    • If you change the Federal Wages and Federal WH amounts, the amount(s) no longer reflect what is in payroll. This can prevent you from being able to verify the amounts on a 94x form using other payroll reports, such as the Payroll Journal.
  5. Click Save to record the payroll amounts and tax deposit made based on those payroll amounts. Once saved, the deposit will appear as the next entry in the list displayed at the bottom of the screen.

Balance Due field - If set up for 94X Online Payments (Setup > Client Information > 94x Online Payment tab), the amount in Balance Due will be the payment made via the Transmit 94X Forms process (E-Filing > 94X E-Filing > Select/Transmit 94X Forms).

Print button - click to print the deposit document. The printed document is available only from the 941 Tax Deposits screen, not in Report Review.

Reset button - Click to clear the information shown on screen for the tax deposit calculation. To delete a tax deposit entry, follow the instructions in the section, "Editing a 94x Tax Deposit", below.

94x Form button(s) - Note that all the deposits for a quarter saved on the 941 Tax Deposits screen are totaled on the Form 941 for that quarter. Do not save duplicates of the same deposit – any deposit information saved for the quarter you are reporting is added to the totals transferred to the quarterly Form 941.

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Editing a 94x Tax Deposit

Select the deposit by double-clicking on it in the list. The totals associated with that deposit appear in the area above the list. Edit and save it again, or delete it by clicking the Delete button.

Schedule B

If wage or tax values for a recorded tax deposit were changed, there may be a discrepancy with one or more of these totals on the Schedule B. Totals on the Schedule B come directly from current payroll checks and not from the recorded tax deposit. (To understand this, note the tax deposit entries are totals based on the quarter while Schedule B totals are based on days in the quarter.)

Note. For Form 941, the option Setup > 94X Form Settings > Use Tax Deposit Information on 941 can be changed at any time to help you determine the reason for any differences in amounts flowing to the 941 that do not match amounts displayed using the quarter date range in Reports > Payroll > Payroll Journal - Employees.

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Printing the 94x from the Tax Deposits Screen

After all tax deposits are saved for the form to be filed, click the button named for the form itself to produce what is needed for filing, e-filing, or documentation.

For general information on completing the 94x form, see "Creating and Revising a 94x Form (CWU)" in Related Links below.

The form and transmission file reflect only wage and tax totals recorded by the tax deposit entries for the quarter. Changes in payroll after the tax deposit entry was made will not necessarily be included and could explain why a Payroll Journal report has different totals than those on the form.

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For an overview of the Tax Deposits screen in CWU, see CWU Payroll Filings.

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