We didn't originally use AP to forecast FICA Tax expense, but now we would like to add this. I want to build an Assumption to hold the FICA Tax rate and then add this to my Personnel Assumptions sheet? How can this be done?
Steps to add a new account and place them on a User-Assigned sheet are located below. Similar steps can be followed to create Custom or Metric accounts and to place them on a level-dependent Standard sheet.
- The first thing we need to do is create the new Assumption accounts to hold the FICA % and FICA Max. To do this we can go to Admin > Manage Your Assumptions and click on the New Assumption button.
- After the accounts are created, we then need to add them to the Assumptions sheet. To do this we can go to Admin > Manage User Sheets - Restricted by User > Edit Assumptions > Edit Account Groups. From here, we can search for the Assumption accounts added in Step 1 and then click Add to Group.
- After steps 1 & 2 have been completed, if we go to Home, navigate to the Assumptions tab and then select the Assumptions sheet, we will see our two new accounts, FICA % and FICA Max.