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Form 940 data entry guide
During Form 940 data entry, you can refer to the following table, which lists each field on Form 940 and then specifies where that data can be found or entered in Accounting CS. Use this table to help you troubleshoot each form line.
note
The taxpayer and preparer signature dates always default to the current system date unless the
Suppress date
checkbox is marked in the Federal 94X Additional Information dialog. To use a different signature date, go to Actions
, then Edit Payroll Tax Forms
.Form 940 field | Calculated by Accounting CS | Data location in Accounting CS | Field in Accounting CS | Notes |
|---|---|---|---|---|
Employer identification number EIN) | No | Setup > Clients > Main tab | EIN/SSN | |
Name (not your trade name) | No | Setup > Clients > Main tab | Payroll name | |
Trade name (if any) | No | Setup > Clients > Main tab | DBA name | |
Address | No | Setup > Clients > Main tab | Business address line 1 | If the client has separate mailing and taxing addresses, be sure that the address that should appear on this form is entered as the Business address. |
Address | No | Setup > Clients > Main tab | Business address line 2 | |
Address | No | Setup > Clients > Main tab | Business address City, State, ZIP | |
Address, Foreign country name | No | Setup > Clients > Main tab > Business address State | Country | If a foreign state or unavailable in the dropdown list, go to Edit Payroll Tax Forms to override this. |
Address, Foreign province/county | No | Setup > Clients > Main tab > Business address State S | City | If a foreign state or unavailable in the dropdown list, go to Edit Payroll Tax Forms to override this. |
Address, Foreign postal code | No | Setup > Clients > Main tab > Business address State | ZIP | If a foreign state or unavailable in the dropdown list, go to Edit Payroll Tax Forms to override this. |
Type of Return | No | Actions > Edit Payroll Tax Forms | Boxes a and b are user entered fields. Click in the appropriate box and type X. You can use Right-click and select clear field override to remove the X. If there were no payments to employees in the filing year, Box c will automatically be selected. If this is a final return, enter the Inactive Date and Reason in the Main Tab of Setup Clients to select Box d. | |
Line 1a. If you had to pay state unemployment tax in one state only, enter the state abbreviation. | Yes | Automatically populated based on payroll checks when unemployment tax is paid to only one state. | ||
Line 1b. If you had to pay state unemployment tax in more than one state, you are a multi-state employer | Yes | Automatically populated based on payroll checks when unemployment tax is paid to more than one state. | ||
Line 2. If you paid wages in a state that is subject to CREDIT REDUCTION | Yes | Automatically populated based on payroll checks when you pay wages to a state that is subject to CREDIT REDUCTION. Schedule A (Form 940) will be automatically complete when applicable. For more information about reduction states, review FUTA Credit Reduction. | ||
Line 3. Total payments to all employees | Yes | Calculates the total payments to all employees based on the payroll year, including any payroll items with FUTA exempt payments selected. | ||
Line 4. Payments exempt from FUTA tax | Yes | Reflects all payments that were exempt from FUTA tax and were also included in Line 3. | ||
Line 4a. Fringe benefits | Yes | Setup > Payroll Items | Pay Item, when FUTA exempt payments: Fringe benefits is selected. | |
Line 4b. Group-Term life insurance | Yes | Setup > Payroll Items | Pay Item, when FUTA exempt payments: Group term life insurance is selected. | |
Line 4c. Retirement/Pension | Yes | Setup > Payroll Items | Pay Item, when FUTA exempt payments: Retirement/Pension is selected. | |
Line 4d. Dependent care | Yes | Setup > Payroll Items | Pay Item, when FUTA exempt payments: Retirement/Pension is selected. | |
Line 4e. Other | Yes | Setup > Payroll Items | Pay Item, when FUTA exempt payments: Retirement/Pension is selected. | |
Line 5. Total of payments made to each employee in excess of $7,000 | Yes | Calculates the total of the payments over the FUTA wage base you paid to each employee during the filing year after subtracting any payments exempt from FUTA tax shown on line 4. | ||
Line 6. Subtotal | Yes | Combines Line 4 and Line 5. | ||
Line 7. Total taxable FUTA wages | Yes | Subtracts Line 3 from Line 6. | ||
Line 8. FUTA tax before adjustments | Yes | Calculates FUTA tax before any adjustments, multiplying Line 7 by 0.006. | ||
Line 9. If ALL of the taxable FUTA wages you paid were excluded from state unemployment tax, multiply line 7 by 0.054 | Yes | Determines if all the taxable FUTA wages you paid were excluded from state unemployment tax, then multiples that amount by 0.054. | ||
Line 10. If SOME of the taxable FUTA wages you paid were excluded from state unemployment tax, OR you paid ANY state unemployment tax late | Yes | Automatically calculates the adjustment when some of the taxable FUTA wages you paid were excluded from state. You'll need to manually enter the adjustments for any late payments made to state unemployment. | ||
Line 11. If credit reduction applies | Yes | Reflects the total Credit Reduction amount from 940-Schedule A. | ||
Line 12. Total FUTA tax after adjustments | Yes | Combines line 8 through 11. | ||
Line 13. FUTA tax deposited for the year, including any overpayment applied from a prior year | Yes | Reflects all payments made for the year by the printing of payroll liabilities / impound payments, and liabilities generated as “closed” for historical payroll checks via the Generate Liabilities dialog. | ||
Line 14. Balance due | Yes | Displays the difference when Line 12 is greater than Line 13. | ||
Line 15. Overpayment | Yes | Federal 94X Additional Information dialog (via the Setup > Clients > Payroll Taxes tab) | Displays the difference when Line 13 is more than Line 12. The Apply to next return or Send a refund checkbox is marked automatically based on the selection made in the Federal 94X Additional Information dialog. | |
Line 16. Report the amount of your FUTA tax liability for each quarter. | Yes | Determines the amount of FUTA tax liability for each quarter. If Line 12. (Total FUTA Tax after adjustments) is $500 or less, Line 16 will not populate. This is noted in Part 5 of the 940 form. | ||
Line 17. Total tax liability for the year | Yes | Setup > Clients > Main tab | Combines line 16a through 16d. This must equal line 12. | |
Part 6 May we speak with your third-party designee? | No | Federal 94X Additional Information dialog (via the Setup > Clients > Payroll Taxes tab) | Third party designee | If yes, select the third-party designee from the drop-down list in the Federal 94X Additional Information dialog. (The list contains staff members who are specified as a payroll form preparer and who have a third party designee PIN entered in the Staff screen). If no, Third party designee should be None (default). |
Part 6 May we speak with your third-party designee? | No | Setup > Firm Information > Staff | Business phone number | The application uses the business phone number and third-party designee PIN entered in the Staff screen for the staff member selected as the third-party designee in the Federal 94X Additional Information dialog. If no, Third party designee should be None (default). |
Part 6 May we speak with your third-party designee? | No | Setup > Firm Information > Staff | Third party designee PIN | The application uses the business phone number and third-party designee PIN entered in the Staff screen for the staff member selected as the third-party designee in the Federal 94X Additional Information dialog. If no, Third party designee should be None (default). |
Part 7 Sign here, image | No | Federal 94X Additional Information dialog (via the Setup > Clients > Payroll Taxes tab) | Taxpayer signature image | |
Part 7 Sign here, image | No | Current System Date | The taxpayer and preparer signature dates always default to the current system date unless the Suppress date checkbox is marked in the Federal 94X Additional Information dialog. To use a different signature date, enter it in the Actions > Edit Payroll Tax Forms screen. | |
Part 7 Sign here, date | No | Federal 94X Additional Information dialog (via the Setup > Clients > Payroll Taxes tab) | Taxpayer | The names available in the Taxpayer drop-down list in the Federal 94X Additional Information dialog are client additional contacts specified as a Payroll form signer in the Main tab of the Setup > Clients screen and firm additional contacts specified as a Reporting Agent in the Main tab of the Setup > Firm Information > Firm screen. |
Part 7 Sign here, Print your name here | No | Federal 94X Additional Information dialog (via the Setup > Clients > Payroll Taxes tab) | Taxpayer | The names available in the Taxpayer drop-down list in the Federal 94X Additional Information dialog are client additional contacts specified as a Payroll form signer in the Main tab of the Setup > Clients screen and firm additional contacts specified as a Reporting Agent in the Main tab of the Setup > Firm Information > Firm screen. |
Part 7 Sign here, Print your title here | No | Setup > Clients > Main tab > Additional Contacts or from Setup > Firm Information > Firm > Main tab | Title | |
Part 7 Sign here, Best daytime phone | No | Setup > Clients > Main tab > Additional Contacts or from Setup > Firm Information > Firm > Main tab > Additional Contacts | Business phone number | |
Paid Preparer Use only, Check if you are self-employed | No | Setup > Firm Information > Firm | Social Security number | The Self-employed checkbox is not marked when an EIN is entered in the Main tab of the Setup > Firm screen. |
Paid Preparer Use only, Preparer's name | No | Federal 94X Additional Information dialog (via the Setup > Clients > Payroll Taxes tab) | Preparer | The names available in the Preparer drop-down list in the Federal 94X Additional Information dialog are staff members that have the Payroll form preparer checkbox marked in the Main tab of the Setup > Firm Information > Staff screen. |
Paid Preparer Use only, Preparer's signature | N/A | This field cannot be populated by the application per IRS specifications. | ||
Paid Preparer Use only, Firm's name (or yours if self-employed) | No | Setup > Firm Information > Firm | The application uses the alternate firm name if the firm is using the Alternative Preparer Block license and the client is set up for live payroll processing. It uses the primary firm name if the firm is using the Alternate Preparer Block license and the client is set up for after-the-fact payroll. | |
Paid Preparer Use only, EIN | No | Setup > Firm Information > Firm | EIN/SSN | The EIN field is blank if a Social Security number is entered. |
Paid Preparer Use only, Address, City, State, ZIP | No | Setup > Firm Information > Firm > Address | Business, City, State, ZIP | The application uses the alternate firm address if the firm is using the Alternative Preparer Block license and the client is set up for live payroll processing. It uses the primary firm address if the firm is using the Alternate Preparer Block license and the client is set up for after-the-fact payroll. |
Paid Preparer Use only, PTIN | No | Setup > Firm Information > Staff | PTIN | The application uses the PTIN from the staff member selected as preparer for the client. |
Paid Preparer Use only, Phone | No | Setup > Firm Information > Staff | Business phone number | The application uses the business phone number for the staff member selected as preparer for the client. |
Paid Preparer Use only, Date | No | Current System Date | The taxpayer and preparer signature dates always default to the current system date unless the Suppress date checkbox is marked in the Federal 94X Additional Information dialog. To use a different signature date, enter it in the Edit Payroll Tax Forms screen. |