Mike, I don't think it matters. The employee has to compensate for this when he figures his taxes at the end of the year. I use the annual table formula. If employee is paid weekly, multiply by 52, calc taxes and divide by 52. If monthly, multiply by 12, etc. I've been doing it this way since the days of 2.11
Bernie Lis Megabytes, Inc. Walled Lake, MI ----- Original Message ----- From: "mjs" <[EMAIL PROTECTED]> To: "RBASE-L Mailing List" <[EMAIL PROTECTED]> Sent: Sunday, January 12, 2003 7:44 PM Subject: [RBASE-L] - Rounding, QuickBooks Pro, and Rbase > Hi all, > > I wrote a payroll program. The employee earned $552.00 (single, 0 > allowances). > According to the Circular E formula, the Federal Withholding Tax should > be $69.50. > > (((552-164)*.15)+11.30) = $69.50 > > WHY DOES QUICKBOOKS ROUND THIS TO $69 INSTEAD OF $70? > Makes my application look dumb! > > Mike Sinclair >
