Year-To-Date Salary - Tax Limit Formula

The year-to-date salary - tax limit formula determines the difference between the YTD salary and the FUTA limit.

Year to date salary tax limit formula example

There are two different options for creating this formula:

  • Option 1: Select each formula block.

  • Option 2: Type the formula in the text field of the Text tab.

Option 1

Follow these instructions to create this formula using example data and dependency formulas:

  1. Populate the formula criteria:

    • Formula Name: YTD - FUTA Limit

    • (Optional) Formula Description

    • Register Group: All Employees

    • Value Type: Periodic

    • Account: 50202-YTD-FUTA Limit

    • Scenario Type: All Scenarios

    • Periods: All periods selected

  2. Click the Functions tab and select the IsNull block.

  3. Select the vertical ellipses to the right of the IsNull block.

  4. Click the Accounts tab, select 50202 from the Account Name drop-down menu, select the YTD Salary formula and click the Add Block button.

  5. Select the vertical ellipses after the next comma block.

  6. Click the Text tab, type 0 in the text field and click the Add To Formula button.

  7. Select the vertical ellipses after the next parentheses block.

  8. Click the - operator block.

  9. Click the Globals tab, select the Federal Tax Limit from the drop-down menu and click the Add To Formula button.

  10. Click the Save button. You will receive a confirmation message with the option to create another formula or return to the formula library.

Option 2

Follow these instructions to create this formula by typing the formula in the Text tab:

  1. Populate the formula criteria:

    • Formula Name: YTD - FUTA Limit

    • (Optional) Formula Description

    • Register Group: All Employees

    • Value Type: Periodic

    • Account: 50202 - YTD-Futa Limit

    • Scenario Type: All Scenarios

    • Periods: All periods selected

  2. Click the Text tab, type IsNull(A#50201,0)-Federal Tax Limit in the text field and click the Add To Formula button.

  3. Click the Save button. You will receive a confirmation message with the option to create another formula or return to the formula library.