To pull quarterly payroll reports in QuickBooks Online, you need to navigate through the Reports section and specify the desired date range. This process allows you to access essential payroll information for tax filings, record-keeping, and financial analysis.
How to Pull Quarterly Payroll Reports in QuickBooks Online
QuickBooks Online provides a streamlined process to generate various payroll reports, including those needed for quarterly review and compliance.
Steps to Access Quarterly Payroll Reports
Follow these steps to generate your quarterly payroll reports:
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Log In and Navigate to Reports:
- Begin by logging into your QuickBooks Online account.
- On the left-hand navigation bar, click on Reports. This will take you to the main Reports center.
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Locate the Payroll Section:
- Once in the Reports center, scroll down the page. You will find various report categories.
- Look for and click on the Payroll section. This category groups all payroll-related reports together.
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Select Your Desired Report:
- Within the Payroll section, you will see a list of available reports.
- Choose the specific report you need for your quarterly review. Common quarterly reports include:
- Payroll Summary Report: Shows total wages, taxes withheld, and employer contributions for a specified period.
- Payroll Tax Liability Report: Details the amounts owed for payroll taxes (employee and employer portions).
- Payroll Wage and Tax Statement: Often used for reviewing year-to-date or quarterly totals, similar to what appears on a W-2 or quarterly tax form.
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Set the Date Range to Quarterly:
- After selecting your report, look for the Report period or Date range dropdown menu, typically located at the top of the report.
- From the options, select a quarterly period such as "Last Quarter," "This Quarter," or choose "Custom" to specify a particular quarter (e.g., January 1 to March 31 for Q1).
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Run the Report:
- Once the date range is set, click the Run Report button (or similar) to generate the report with the specified quarterly data.
Essential Quarterly Payroll Reports
Understanding which reports to pull is crucial for accurate quarterly tax filings and business insights.
- Payroll Summary Report: Provides a comprehensive overview of all payroll activity, including gross pay, deductions, and employer contributions for the quarter. This is excellent for verifying totals before filing.
- Payroll Tax Liability Report: Critical for determining the exact amount of payroll taxes you owe for the quarter, including federal, state, and local taxes. This report helps you prepare for forms like IRS Form 941.
- Payroll Wage and Tax Statement: Offers a detailed breakdown of wages and taxes for each employee within the quarter, which can be useful for reconciling employee records.
Customizing and Utilizing Your Reports
QuickBooks Online offers flexibility in customizing and using your payroll reports:
- Exporting Reports: After generating your report, you can typically export it to Excel (CSV) or print it for your records. Look for the export or print icons at the top of the report.
- Saving Customizations: If you frequently run the same report with specific filters, you can often save the customization for quick access in the future.
- Drill-Down Capability: Many reports allow you to click on specific numbers or employee names to drill down into more detailed transactions or individual paychecks.
By following these steps, you can efficiently pull the necessary quarterly payroll reports in QuickBooks Online, ensuring you have the data needed for compliance and financial management.
