This function is considered deprecated (of little value). It was designed for the time when many were making deposits at their bank or by phone. Now that most/all deposits are done online, and the online process can show your deposit history, there is little or no need to record deposits here. There are no plans to add any functions to this item in the future.

•This function can be used to keep up with your tax deposits.

•Use the Payroll Tax Summary to obtain the figures.

•When filling in quarterly and yearly reports - like the Federal 941 - use the Tax Deposit report to reconcile tax deposits with tax liability.

•Federal Withholding, Social Security, and Medicare are treated as one item: Federal 941.

•This is the total of your Federal EFT (Electronic Funds Transfer) deposit.

•The date of the check - the first day the employee could have accessed the funds, known as 'constructive receipt' - determines the tax liability.

•If you are entering a quarterly tax - like Federal Unemployment - use the date the quarter ended.

•If you are using the Tax Deposit feature as your only means of recording your tax deposits, be sure to print a Detail report each time, as your audit trail.