How to identify and view tax variances
If you notice an unexpected debit or credit on your bank statement from Check Technologies, it is likely a tax variance. You can use your Recap Form in 7shifts to identify these adjustments and ensure your records are accurate.
Things to know
- Employers are responsible for keeping tax details up to date and paying agencies directly if filings fail.
- At the close of each quarter, Check Technologies uploads a Recap Form for reconciliation.
- Refiling taxes may result in associated fees.
Access the Recap Form
To see a breakdown of your tax adjustments, follow these steps in your 7shifts account:
- Click on Payroll.
- Navigate to Tax > Tax Forms.
- Search for the Recap Form.
Identify the cause
Note: You can reach out to our support team directly for a Payroll Journal report to help break down specific Tax Variances and Adjustments.
Variances often appear after a retroactive tax rate change. For more information on bank statement codes, please see our guide on bank codes.
How to prevent future variances
While it's not always possible to avoid variances caused by late notice of rate changes from government agencies, you can take proactive steps to help. Best practice is to ensure your tax rates are up-to-date at the start of each quarter and ensure Third Party Administrator (TPA) access is enabled in all your agency portals.
Next steps
If you still cannot identify the cause of the variance, it may relate to missing tax information or a failed filing. Please contact 7shifts Support for assistance. When messaging us, provide a clear screenshot of the transaction and the associated bank code.