T
Tia
I need help with a formula for the following:
FUTA is calculated on YTD income up to $7000.00. Once an employee's income
is greater than $7000.00, they owe $0 FUTA. My formula works until an
employee makes over $7000.00. I think the problem is that they owe FUTA on
all income up to $7000.00 so if for example I have the following employee:
YTD Payroll Payroll for Period FUTA
01/01/08 6450.00 6450.00 51.60 = (6450.00)
0.008
01/15/08 12000.00 5550.00 4.40 =
(7000-6450)0.008
02/01/08 18000.00 6000.00 0.00 (0) 0.008
I've pasted the formula that I've been trying to use.
G4 is the YTD Payroll Total
FUTA is calculated on YTD income up to $7000.00. Once an employee's income
is greater than $7000.00, they owe $0 FUTA. My formula works until an
employee makes over $7000.00. I think the problem is that they owe FUTA on
all income up to $7000.00 so if for example I have the following employee:
YTD Payroll Payroll for Period FUTA
01/01/08 6450.00 6450.00 51.60 = (6450.00)
0.008
01/15/08 12000.00 5550.00 4.40 =
(7000-6450)0.008
02/01/08 18000.00 6000.00 0.00 (0) 0.008
I've pasted the formula that I've been trying to use.
G4 is the YTD Payroll Total