What crazy times we’re in! And to add to the confusion, there are some much-needed, but very rushed instructions for payroll, Paid Sick and Family time, redefined due dates for 941 payroll taxes, and unclear reporting needs.
First things first – You will process payroll as usual, including FICA and Medicare deductions on all regular pay, Sick pay, and Family Leave pay. There are separate rules about when the 941 payments are due, so check with your CPA and continue to comb through the information as it becomes available.
We’ve received quite a few calls
about tracking the Paid Sick/Family leave through Sage 100 Contractor. Since
the reporting is not really clear yet, the important piece will be the
consistency of your entries. We have some suggestions that will allow reports to
be pulled at a later date, when we know what needs to be reported.
Some suggested tracking:
You can combine more than one of these ideas, too. In each of these cases, you are isolating the payment for later retrieval. Consistency of the data entered will be the key here. This is so fluid and there are just too many ‘unknowns’ to have it fully dialed in. – CMW