The range of reports offered in QuickBooks Desktop is one of its best features. When examining your company’s payroll and financial status, the payroll and employee reports are a great resource. Fortunately, it’s extremely easy to Run Payroll Reports in QuickBooks. This is how QuickBooks payroll reports are run. Let us begin by understanding what the payroll reports are.
What Are Payroll Reports?
Pay reports are essentially written records derived from account information and business data that have to deal with payroll. They are made using data from payroll transactions over a predetermined length of time. They can cover one pay period or several, including quarterly or annual pay periods.
The basic payroll report is made up of several elements that are helpful for the company overall as well as for this report. The base pay for each pay period is determined by the earnings and salaries that the company’s employees received during that particular period. Together with the gross amount for wages and salary, they also compute the net amount provided to the employee.
Now let us learn about the importance of payroll report for businesses.
Why Payroll are Reports so Crucial?
Let’s talk about why payroll reports are important for your company before we go into how to run payroll reports in QuickBooks. Payroll reports should be generated regularly by your business for a number of reasons. These are a few instances:
Tax Filing: Payroll report may prove to be really beneficial when it comes to filing your taxes. This is because the data in these reports can be utilized to calculate your payroll tax deduction amount as well as your payroll expense percentage. Payroll reports are necessary for both the annual business income tax return and the quarterly anticipated tax payments.
Withholding Agreement: It is your responsibility as an employer to deduct specific taxes from your employees’ paychecks. These comprise the federal income tax, the state income tax (in the majority of states), Social Security and Medicare taxes, and the federal income tax.
A lien or levy could be placed on your business for not adhering to tax requirements. In certain cases, you can even be charged with a crime. Regularly running and examining payroll reports will help you make sure you are adhering to employment tax regulations.
Small Business Loans: A small business loan application and supporting documentation verifying the profitability, expenses, and other aspects of your organization must be submitted to a bank or other lender. To get a complete picture of your payroll expenses, certain lenders could ask you to submit payroll records.
How to Run Payroll Reports in QuickBooks?
In this article, we will talk about how to run, print, and customize payroll reports in QuickBooks Online and QuickBooks Desktop Payroll.
If you intent to get a deeper insight on your business finances, then there are many payroll reports one can utilize that can help you to acquire important information about employees and business.
Here is the list of the payroll reports present in your payroll product.
| QuickBooks Online Payroll | QuickBooks Desktop Payroll |
|---|---|
| Contractor Payments | Payroll Summary |
| Employee Details | Payroll Item Detail |
| Employee Directory | Payroll Detail Review |
| Multiple Worksites | Payroll Transactions by Employee |
| Paycheck History | Payroll Transaction Detail |
| Payroll Billing Summary | Payroll Liability Balances |
| Payroll Deductions/Contributions | Payroll Item Listing |
| Payroll Details | Employee Earnings Summary |
| Payroll Summary by Employee | Employee State Taxes Detail |
| Payroll Summary | Employee Pay Adjustments History |
| Payroll Tax liability | State Entitlement Report |
| Payroll Tax and Wage Summary | Employee Contact List |
| Recent/Edited Time Activities | Employee Withholding |
| Retirement Plans | Paid Time Off List |
| State Mandated Retirement Plans | New Hire List |
| Time Activities by Employee Detail | Terminated Employees List |
| Total Pay | Emergency Contact List |
| Total Payroll Cost | Employee Withholding |
| Vacation and Sick Leave | Workers Comp Summary |
| Workers’ Compensation | Workers Comp by Code and Employee |
| Workers Comp by Job Summary | |
| Workers Comp Detail | |
| Workers Comp Listing |
How to Access Payroll Reports in QuickBooks?
It is possible to locate reports about employee wages, info, deductions, taxes, and several more reports in \your particular QuickBooks Payroll. It is also possible to prepare a payroll summary report in QuickBooks.
For QuickBooks Online Payroll
Step 1: Navigate to the Reports section and then go to Standards
Step 2: Use the search field to find reports by name or scroll down to the Payroll section
Step 3: Locate and choose the report you wish to read
Step 4: Choose the date range to filter your report, then click Apply.
For QuickBooks Desktop Payroll
Here are the steps to access payroll reports. It is also possible to export reports to Excel if required:
Step 1: Select Reports, followed by Payroll & Employees
Step 2: Choose the report that you wish to see
Step 3: You can Customize Report if applicable
Workers’ Compensation report
To produce paperwork for state authorities or insurance providers, follow these instructions to retrieve reports including your Workers’ Compensation information:
Step 1: Navigate to Reports and then click Employees and Payroll
Step 2: Choose the Report you wish to review:
- Workers Comp by Code and Employee
- Workers Comp Detail
- Workers Comp Summary
- Workers Comp Listing
Step 3: Choose the date range to get the information you require
Sick, vacation, or time off report
Here’s how to view and alter the vacation and sick leave balances or time off reports for your staff members.
Step 1: Select Reports, followed by Payroll & Employees
Step 2: Choose the Time Off List or Employee Contact List
Step 3: Choose Customize Report
Step 4: Click the Display tab and choose the following details for Columns:
- Sick available
- Sick used
- Vacation limit
- Sick limit
- Vacation available
- Vacation used
Step 5: Press Ok
Step 6: Select a Date Range if you wish to run a report for a particular period.
What Are The Additional Features of QuickBooks Payroll Reports?
Mark as Favorite
Reports are available for you to favorite. This makes it simple for you to view these reports in the Favorites area.
QuickBooks Online Payroll
Step 1: Go to Standard under Reports
Step 2: Go to the Payroll section by scrolling down
Step 3: Select Favorites next to the report name.
QuickBooks Desktop Payroll
Step 1: Select Report Center from the Reports menu
Step 2: Pick Payroll & Employees
Step 3: Hover over the report and select Fave (heart icon). The report is available under the Favorites tab.
Customize report
QuickBooks Online Payroll
Step 1: Open the payroll report that you wish to alter
Step 2: Click on Customize
Step 3: Decide which things to include in your report
Step 4: Choose Run report after you’re done
QuickBooks Desktop Payroll
Print reports
QuickBooks Online Payroll
Step 1: Go to the payroll report that has to be printed
Step 2: Choose Share
Step 3: Decide how you wish your report to be printed:
- Printer Friendly: Choose this option, then Print, to print your report precisely as it appears in your payroll account.
- Export to Excel: Choose this option if you wish to print your report as an Excel file. After downloading, open the Excel file, and print the report.
QuickBooks Desktop Payroll
Step 1: Select Reports, followed by Payroll & Employees
Step 2: Decide which report to print
Step 3: Modify the report as necessary
Step 4: Choose Report from the Print dropdown and then click Print.
Memorize a report (QuickBooks Desktop Payroll only)
Step 1: Select Reports, followed by Payroll & Employees
Step 2: Choose the report that you wish to see
Step 3: After making any necessary changes to the report, choose Memorize
Step 4: Give the report a title in the Memorize Report window
Step 5: To assign the report to a Memorized Report Group, select Save in Memorized Report Group and the group from the dropdown list
Step 6: The group needs to be configured on your Memorized Report List already. This is not the place to form a new group
Step 7: Click on OK
Final Words
We covered how to run payroll reports in QuickBooks in this article. ReconcileBooks with you how to use the software to create this report. You figured out the exact steps needed to run payroll in QuickBooks Online.
We also went over how to print, edit, export, and change the paycheck summary report. Knowing how to create payroll reports will help you operate your business more effectively by allowing you to assess staff work patterns and your payroll history.
For more help, call us at +1 347 967 4079.
