Payment summaries are not calculating correctly, some figures are wrong and I have a 0 ( zero ) tax when processing pays

Legacy KB ID: 31

Question

Why is my payment summary not calculating correctly, some figures are wrong and I have tax firgure ( PAYG) of 0 when processing pays?

Answer

This has occurred because you have applied QuickBooks 2006-07 SP1 before the end of the financial year without finalising your payment summaries for the 2005-06 financial year. The following information has been supplied with both the download for the patch and the patch installation.


                                                 WARNING!


This update contains tax tables for the 2006/07 financial year and the new payment summary format that takes effect from 1st July 2006. You must process employee pays and payment summaries for the 2005/06 financial year prior to installing this update. Otherwise your 2005/06 pay calculations will not be correct and your employees will receive the wrong payment summary forms. Once you have installed this update, QuickBooks will use the 2006/07 tax tables to calculate pays.


Note: If you are using QuickBooks 2006/07 in a multi-user environment, you need to install this update on all workstations accessing your company file. You cannot use a company file in a multi-user environment unless all installations are updated to the same version.

To correct this Issue you must do the following:

Note: Make sure you have your backup that you made before applying the patch available to you before continuing.

1. Uninstall QuickBooks 2006-07 using the Windows Control Panel then Add/Remove Programs

2. Reinstall QuickBooks 2006-07 ***DO NOT APPLY '2006-07 SP1' AT THIS STAGE***

3. Restore a backup of your data that you made just before applying the 2006-07 SP1 Update

4.  Process all pays and payment summaries for the 2005/06 financial year.

5.  Create a backup of your QuickBooks 2006/07 company file(s).

6.  Ensure that your copy of QuickBooks 2006/07 is activated.  You can do this by clicking on Help menu > My Licence Information.  If QuickBooks is not Activated you can Activate online by clicking File menu > Activate QuickBooks OR File menu > Refresh QuickBooks Licence.

7.  Exit from QuickBooks 2006/07.

8.  Download the "QB2006-07SP1.exe" file and save it to a location on your hard drive (For example, C:\[temp] or the Desktop).

9.  Use Windows Explorer to locate "QB2006-07SP1.exe", the file you just saved, and double click it to run the setup program.

10.  Follow the on-screen instructions to install QuickBooks 2006/07 Tax Table Update.  After installing the QuickBooks update successfully, you can delete the "QB2006-07SP1.exe" file.  Alternatively, save it to a safe location in case you need to re-install QuickBooks and this update at a later date.

11.  The first time you open QuickBooks 2006/07, a message displays informing you that "QuickBooks has recently downloaded a software update".  Click Yes to update QuickBooks. Note: On some operating systems, a QuickBooks login dialog may appear the first time you open QuickBooks, Click OK to proceed.

12.  The QuickBooks Update Utility will commence.  When it has reached 100%, QuickBooks displays a message that "Your version of QuickBooks 2006/07 is now up to date".  Click OK.  QuickBooks will now open.


13. Check that the QuickBooks 2006/07 Tax Table Update has been installed by pressing CTRL button + 1 on your keyboard simultaneously.  This displays the Product Information box.  The "Versions Used on File" (middle of screen) should state "V15.OA R4 [date]".  This indicates that you have installed the QuickBooks 2006/07 Tax Table Update successfully.



 


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