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How QuickBooks tracks company-paid taxes and benefits

QuickBooks tracks company-paid taxes with each paycheck you write. It also allows you to track company-paid benefits with each paycheck through company contribution payroll items.

Here are some advantages of tracking company-paid taxes and company-paid expenses with paychecks:

  • You always have a record of how much tax you owe at any time, so you can plan to have the case to pay it.

  • For taxes that have an earnings cap (such as federal unemployment), you can see when an employee reaches that cap and stops accruing additional tax liabilities.

  • When you track company-paid benefits with a paycheck, you can track the total cost to the company for each employee. The total cost equals compensation plus company-paid taxes plus company-paid benefits.

Where this information appears

QuickBooks payroll reports provide you with a list of all company-paid taxes and other payroll expenses. Taxable company paid expenses also appear on paystubs that you can print separately from check, if you wanted to keep such summaries in your own records, for example.

Where to find a list of payroll reports

Where to find a list of payroll reports

See also

KB ID# H_PAY_CONCPT_TRACKING_TAXES
12/7/2016 4:10:09 PM
QYPPRDQBKSWS05 9138 Pro 2017 27085a