Calculating FICA Accruals

When calculating FICA accruals, there are different calculations for employees that have deductions subject to the cafeteria plan and those who do not have the cafeteria plan.

To calculate FICA accruals for employees without the cafeteria plan:

Job FICA Accrued Amount = Job Accrued Pay x FICA Rate

Job Medicare Accrued Amount = Job Accrued Pay x Medicare Rate

To calculate FICA accruals for a single job with the cafeteria plan:

Job FICA Accrued Amount = (Job Accrued Pay - Cafeteria Amount) x FICA Rate

Job Medicare Accrued Amount = (Job Accrued Pay - Cafeteria Amount) x Medicare Rate

To calculate FICA accruals for multiple jobs with the cafeteria plan:

The program calculates the amount of the accrued cafeteria plan for each job:

Job Accrued Cafeteria Amount = Total Cafeteria Amount x Job Percent Assigned x Job Accrued Pay/Job Pay Rate

Then, the accrued FICA is calculated as follows:

Adjusted Gross Pay = Total Gross - Nontax Amounts - Cafeteria Plan Amount

Adjusted Job Accrued Pay = Job Accrued Pay - Job Accrued Cafeteria Amount

FICA Percent Adjustment = Medicare Gross/Adjusted Gross Pay

Medicare Percent Adjustment = Medicare Gross/Adjusted Gross Pay

Job FICA Accrued Amount = Adjusted Job Accrued Pay x FICA Percent Adjustment x FICA Rate

Job Medicare Accrued Amount = Adjusted Job Accrued Pay x FICA Percent Adjustment x FICA Rate

Accrued FICA Distribution Amount = (Job FICA Accrued Amount + Job Medicare Accrued Amount) x Account Percent