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Work with payroll reports and payroll data

QuickBooks provides several reports you can use to evaluate clients' payroll data. For a quick view of all the available payroll reports, including descriptions and an example of each report, click Report Center.

Payroll summary report

The payroll summary report shows amounts paid to each employee, with details for all withholdings, employer expenses, and contributions.

If your client does not use a separate checking account for payroll, paychecks appear in the check detail report. However, the payroll summary report gives more detailed information, so you can easily determine how net pay was calculated.

Comparing payroll totals to the income statement

You can customize the payroll summary report to show totals for salaries/wages and payroll tax expenses for comparison against totals shown on the income statement.

If payroll item totals vary from those shown on the income statement, use QuickZoom on the income statement to create a detailed transaction report and locate the variance. (The variance is often another tax payment incorrectly posted to payroll tax expense; that is, corporate income tax, estimated tax payment, or Franchise Tax estimated tax payment. It can also be the penalties and interest on late payments.)

This report is also useful for providing census information for the client's retirement plans. If the client has a 401(k) plan, the employee's contribution is included in the report. If hours are needed on the retirement plan census, you can add the Hours column back into the report by clicking the Customize button and clicking Hours in the Other Columns box.

Displaying the wage base for a payroll tax

When you review payroll information, you can have QuickBooks display the wage base used to calculate a particular tax by creating a payroll summary report and double-clicking the tax amount for which you want to know the wage base. This creates a QuickZoom report that shows the wage base and the calculated tax amount for each paycheck for the specified period, with overall totals for each.

Sending payroll data to Microsoft Excel

When you install QuickBooks, you copy an Excel workbook into your program folder. The workbook contains a number of worksheets designed to capture payroll data required by most states when filing state tax forms. It also contains worksheets for two federal forms.

Each worksheet is preset with one Excel PivotTable that you can use as designed or modify to suit your needs. The following worksheets are included:

  • State wage listing

  • Employee journal

  • 941 B worksheet

  • 943 worksheet

  • Rate and hours by job

  • Rate and hours by quarter

  • Deferred compensation

  • Calculated percentages

See also

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