What is the FUTA Journal?

The FUTA Journal displays the wages and FUTA (federal unemployment tax act) Tax for each transaction entered for each recipient under the selected payer. The journal also includes a quarterly and annual summary and gives the ability to select the recipients and date range to be reported on.  The report includes the following information:

  • Payer name
  • Payer TIN
  • Federal Wage Base for the current tax year
  • Recipient name
  • Recipient TIN
  • Subject Wages, Taxable Wages and FUTA Tax per transaction
  • Number of transactions for each quarter per payer
  • Total number of transactions entered for the payer

Printing a FUTA Journal

  1. Click on the Print drop down menu.
  2. Choose Journals.
  3. Choose FUTA.
  4. Choose the level of detail to be displayed on the journal.
    • Show Transaction Detail: This option will show details for each transaction entered for each recipient.
    • Summarize by Recipient: This option will show all transactions as one totals for each recipient.
    • Show Totals Only: This report will show overall totals for the selected payer.  It will not be broken up by recipient.
  5. Choose the appropriate quarter or date range.
  6. Choose the recipient(s) to print the journal for.

Note: To select multiple recipients press and hold the Shift or Ctrl key and click in the gray grid area on the left of the recipient TIN for each recipient you wish to select. All recipients can be selected by checking the All Recipients box.

  1. Click Preview to preview the journal or Print to print the journal.

HINTS

  • The FUTA Journal Window contains the Recipient List, which will display all of the recipients available for the selected payer.
  • To sort in ascending or descending order: 
    • Click the field heading (e.g. Recipient TIN, Recipient Name)
    • A small arrow appears pointing upwards or downwards indicating ascending or descending order.
  • A date/quarter must be selected from the Dates section. To select a date/quarter, select the appropriate radio button on the left side of the window under the Detail Option section. The quarter selected will specify which transactions to include in the calculation of the FUTA Journal. Only the transactions that occur in the selected period will be calculated.
Was this article helpful?
0 out of 0 found this helpful