in the File Location field to select the alternate file location to which you want to save the file. If you choose the second option, leave the File Location field blank when you export the file.Use this screen to create the Electronic Federal Tax Payment System (EFTPS) Payroll Tax Deposit File based upon the employee and employer social security and Medicare totals and the federal income tax withholding totals that are contained in the tables of the selected reporting sources. The program adds the amounts in the reporting sources and performs no other calculations. The process does not verify that the amounts are correctly calculated. For example, if an employee's social security withholding is not the correct amount, according to the current year's rate, the process reports the amount that is in the record, rather than the correct amount. For this reason, it is a good idea to ensure that the amounts are correct before performing this process.
The Payroll Tax Deposit File is a single text file that you can submit to the IRS electronically after each payroll, monthly, or quarterly. Transmit the file to your financial institution one business day before the due date. Your bank electronically submits the tax payments on the tax due date and your records for the IRS are automatically updated. This file is directly related to the Federal Form 941 and reports social security taxes, Medicare taxes, and federal income taxes withheld. You can use records from the Payroll table and/or Earnings table, depending on your reporting requirements.
After you have set up your financial institution information on the Configure Direct Deposit screen, you can create the EFTPS Payroll Tax Deposit File.
After you have created payroll, reviewed the Payroll Edit Report, and printed paychecks and/or direct deposit advices, you can generate the Payroll Tax Deposit File that contains the payment information to be transmitted to the bank for the tax period for which you are reporting, if you have selected Payroll Table in the Reporting Source group box. You must create this file before posting the Payroll Journal. After the Payroll Journal is posted, the data required for creating the Payroll Tax Deposit File is no longer available unless you select Earnings Table in the Reporting Source group box.
in the File Location field to select the alternate file location to which you want to save the file. If you choose the second option, leave the File Location field blank when you export the file.Use the fields in this block to create a new parameter ID or to retrieve a previously saved parameter ID. A parameter ID represents a set of screen selection parameters. After you have saved a parameter ID and its related parameters, you can retrieve them using Query.
You can use the retrieved parameters to produce reports and run processes more efficiently and with greater consistency. The saved parameters are also useful and necessary when you want to run the process as part of a batch job. Many users save a unique set of parameters for each different way they run a report or process. When you select a previously saved parameter ID or parameter description, the associated saved screen selection parameters automatically display as selection defaults. The page setup and print options are also included in the saved parameter ID if there are any. You can change any of the associated selection defaults as necessary.
Enter, or click 
to select, a parameter
ID of up to 15 alphanumeric characters. Choose characters for your parameter
ID that help identify the type of selections you made in the screen, such
as PERIOD or QUARTERLY.
When you save your record, all the selections made in the screen are stored with the parameter ID. Later, you can retrieve the parameter using Query.
You can use the parameter to run the process more efficiently because you can select the parameter ID with its previously defined screen selections. After the default selections display in the screen, you can override the defaults.
Enter, or click to select, a parameter
description of up to 30 alphanumeric characters.
Use this group box to define the parameters for creating the EFTPS Payroll Tax Deposit File.
Use these fields to enter taxable entity information.
This field displays One as the range option.
Enter, or click to select, the ID for the taxable entity for which you are creating the EFTPS Payroll Tax Deposit File. Establish taxable entity information on the Configure Company Information screen.
Enter deposit date information.
This field displays One as the range option.
Enter, or click 
to select, the first day of the month, in date format, of the effective deposit date of the Payroll Tax Deposit File. For example, enter 04/01/02 for the first quarter tax period of 2002.
Enter pay cycle information.
This field displays One as the range option.
Enter, or click to select, the pay cycle for which you want to create the Payroll Tax Deposit File (you can create only one pay cycle at a time). If you have selected a Default Pay Cycle on the Configure Payroll Settings screen, it displays in this field.
Enter direct deposit information.
This field displays One as the range option.
Enter, or click to select, the direct deposit settings record that you have previously set up for your tax deposits.
Enter tax period information.
This field displays One as the range option.
Use the drop-down list to select the tax period for which you are making this tax deposit.
Use the fields in this group box to enter the range of checks to be included in this tax deposit. The check dates must be within the period selected in the Tax Period field and can include checks in the Payroll Edit table and/or Employee Earnings table, depending upon your reporting source selection.
This field displays Range as the range option.
Enter, or click to select, starting check date for the range of paychecks to be included in this tax deposit.
Enter, or click to select, the ending check date for the range of paychecks to be included in this tax deposit.
From the drop-down list, select the transaction type. Valid options are:
Deposit — Select this option to create a deposit file.
Prenote — Select this option to create a prenotification file.
Use this drop-down list to select the bank to which your financial institution is electronically paying the tax deposit. The bank you select depends on your location in the United States. Options include:
Bank One — Select this option if your company is in the Northern and Western United States. Refer to your EFTPS Payment Instruction Booklet for details. (Bank One was formerly First Chicago.)
Bank of America — Select this option if your company is in the Southern and Southwestern United States. Refer to your EFTPS Payment Instruction Booklet for details. (Bank of America was formerly Nations Bank.)
Enter the location of the file you are creating. There are two ways to do this:
In the File Location field, enter, or click to select, the alternate file location where you want to store the export file. Alternate file locations are set up on the Manage Alternate File Locations screen.
or
Leave the File Location field blank. When you execute this application, the export file is saved to the Costpoint database. Use the Export Files application to retrieve it and save it to a location on the network.
Enter, or click to select, the name of the file being created.
Select this check box to overwrite an existing file with the same file name.
Use this group box to select the source of the paychecks you want to include in the tax deposit. You must select one or both of the check boxes.
Select this check box if you have payroll records that have not been posted to the General Ledger and you want to include these paychecks in the tax deposit.
Select this check box if you have payroll records that have been posted to the General Ledger that you want to include in the tax deposit.
This group box contains the tax deposit information that is used to print the report and create the tax deposit file. You can populate the fields in this group box by clicking the Calculate button. If your tax deposit amounts differ from the calculated amounts, you can override them. If you enter any override amounts in the fields, **** prints in the Override column of the report.
Click the Calculate button to populate this field with the total social security tax withheld from employee paychecks. To report an override amount, enter the amount in this field. This is a required field.
Click the Calculate button to populate this field with the total social security tax accrued by the employer. To report an override amount, enter the amount in this field.
Click the Calculate button to populate this field with the total federal income tax withheld from employee paychecks. To report an override amount, enter the amount in this field.
Click the Calculate button to populate this field with the total Medicare tax withheld from employee paychecks. To report an override amount, enter the amount in this field. This is a required field.
Click the Calculate button to populate this field with the total Medicare tax accrued by the employer. To report an override amount, enter the amount in this field. This is a required field.
From the drop-down list, select the one-digit numeric value that precedes the tax ID in the Company Identification field of the EFTPS file's Batch Header Record (column 41) and Company/Batch Control Record (column 45). Valid options are:
1 — Select this option if only one identifier is needed or if each unit has a unique IRS employer ID number.
9 — Select this option if each unit does not have a unique IRS employer ID number or if batches are varied because of unique settlement accounts.
Click this button to populate the fields in the Reporting Information group box.
Click 
to print the tax deposit report.
You must print the report before selecting this option. Click the arrow to the right of 
and select Create EFTPS Tax Deposit File. You receive a message asking if you really intend to create the tax deposit file. If you click OK, Costpoint creates the EFTPS Payroll Tax Deposit File.
If you click the arrow to the right of and select Print/Create EFTPS Tax Deposit File, you receive a message asking if you really intend to create EFTPS Payroll Tax Deposit File. If you click OK, the tax deposit report prints and the file is created immediately after.
After Costpoint begins creating the file, a "DO NOT INTERRUPT" message and a message showing records processed displays.