QuickBooks Payroll Bulletin | December 2009

New and Improved Payroll Reports in Excel

Whether you calculate part of your payroll yourself, have it done by an accountant, or use Intuit Payroll, federal and state laws dictate that reporting and payment of all payroll taxes are your responsibility as an employer. To ensure accuracy in your processing, run QuickBooks Payroll reports regularly to track and analyze your payroll information.

With input from subscribers, Intuit Payroll has recently added several new and improved reports you may find useful for payroll management. These reports may be particularly valuable at the end of financial reporting periods (month, quarter, and year). Generated in QuickBooks, each of these reports is displayed in Microsoft Excel spreadsheets. (Note: You must have Microsoft Excel 2000, 2002, 2003, or 2007 installed on your computer to create these reports.)

The newest payroll reports include:

Payroll Summary by Tax Tracking Type
Displays payroll transaction summaries by tax tracking type, pay items, wage base, and amount.
Available using QuickBooks 2007 through 2010

Employee Time & Costs
This report shows detailed time records from the QuickBooks time-tracking feature and includes cost estimates for the time based on an employee’s payroll setup. It shows most available fields of data from time records and includes the full-time record memo, which is not available in other QuickBooks reports.
Available using QuickBooks 2007 through 2010

Employee Sick & Vacation History
This report shows you how much sick and vacation time an employee has accrued and used over time as well as the balance of each payroll, estimated based on the current ending balance.
Available using QuickBooks 2008 through 2010

Employee Direct Deposit Listing
This report lists each employee’s direct deposit status. If they have direct deposit, it also lists the bank, routing, and account information.
Available using QuickBooks 2007 through 2010

Tax Form Worksheets
QuickBooks includes an Excel workbook with worksheets designed to calculate the numbers on your most common payroll tax forms, such as Form 941, Form 940, Form 943, Form 944, Form W-2, and Form W-3, as well as the state unemployment insurance wage listing. This report includes breakdowns for some difficult-to-calculate numbers, such as Box 1 on Form W-2.
Available using QuickBooks 2007 through 2010

Certified Payroll Report
Projects that are publicly funded typically require the business to pay a prevailing wage rate for workers on the job. Then, for each payroll period, the business must create a Certified Payroll Report that shows the wages paid to each worker.

From QuickBooks, you can generate a Certified Payroll Report in Excel. Use this report as a substitute for the U.S. Department of Labor’s WH-347 and WH-348 forms required for Davis-Bacon Act payroll certification compliance. The federal government allows businesses to use substitute formats for these Certified Payroll filings. The reports produced in QuickBooks contain all of the information required on the WH-347 and WH-348 forms. You can then print and sign the Excel-based reports just as you would the standard forms.
Available using QuickBooks 2009 through 2010

Payroll Liability Accruals & Payments
This report displays daily accruals and individual payments by payroll tax item (and other liability items), including federal and state withholding, Social Security, Medicare, 401(k), and more.
Available using QuickBooks 2009 through 2010

Deferred Compensation Report for 401(k) and more
This new report helps you with compliance filings for plans such as your 401(k), 403(b), and others. Use it to create a report containing both employee demographic information such as name, address, birth date, and hire date as well as summaries for earnings, 401(k) contributions, and 401(k) company match amounts.
Available using QuickBooks 2009 through 2010

For Accountants: Client-Ready Payroll Reports

These six QuickBooks reports allow accountants to export payroll data into Excel reports for each client. Recent updates to these reports include better performance and increased capacity. Key reports now include paycheck pay period dates, a first for QuickBooks reports. (Note: Client-ready payroll reports require an Enhanced Payroll for Accountants subscription.)

These six reports include:

Payroll Detail
Get detailed earnings, taxes, and benefits for your current payroll run.

Payroll Register
Calculates gross-to-net for all employees in your business.

Payroll Expense Summary
A complete summary of total earnings, taxes, and benefits paid by your company.

Employee YTD Summary
This report generates year-to-date, quarter-to-date, and month-to-date gross-to-net amounts for all of your employees.

Employee Cost Comparison
Compare earnings, taxes, and benefits paid to each employee between two different periods. You can configure the report using the same date in the prior year or you can enter a custom date range.

941/940/State Liabilities and Payments
This key tax report shows taxes accrued, paid, and balances.

Run the Reports

To run any of these reports and view them in Excel:

1. Start on the Reports menu in QuickBooks.
2. Click Employees & Payroll, and then click More Payroll Reports in Excel. (If you have Accountant Edition, you will also see the Client-Ready Payroll Reports option.)
3. If required, follow the prompts to enable macros in Excel.
4. Create reports based on your QuickBooks data (in most cases with one button click). Once in Excel, you can edit, print, save, and send the reports just like any other Excel workbook.