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1. #HOW TO RUN MANUAL PAYROLL IN QUICKBOOKS DESKTOP HOW TO#
2. #HOW TO RUN MANUAL PAYROLL IN QUICKBOOKS DESKTOP FULL#

Some lenders may require you to provide payroll reports in order to obtain a comprehensive picture of your payroll expenditure. If you want to get a small business loan from a bank or another lender, you must submit an application together with additional papers proving the health of your company – profit or loss, expenses, and so on. When it comes time to petition for loan forgiveness, having payroll records on hand helps to streamline and simplify the procedure while also ensuring that your loan is forgiven.

#HOW TO RUN MANUAL PAYROLL IN QUICKBOOKS DESKTOP FULL#

If your company received a Paycheck Protection Program (PPP) loan, you are aware that you can receive full or partial loan forgiveness by devoting cash to qualified payroll expenditures. Payroll reports are required for quarterly estimated tax payments as well as the annual company income tax return. This is due to the fact that the information included in these reports can be used to deduct your payroll expenditures as well as your percentage of payroll tax payments. Payroll reports might be very useful when it comes time to file your taxes. By running and analyzing payroll reports on a regular basis, you can ensure that you are in compliance with employment tax rules. In some situations, you may even face criminal charges. Failure to comply with tax regulations may result in a lien or charge being imposed on your company. These include the Social Security and Medicare taxes, as well as the federal income tax and (in most states) the state income tax. These are some examples: Withholding ComplianceĪs an employer, it is your obligation to withhold certain taxes from your workers' paychecks. There are several reasons why your company should run payroll reports on a regular basis.

#HOW TO RUN MANUAL PAYROLL IN QUICKBOOKS DESKTOP HOW TO#

The software allows you to run the following reports:īefore we get into how to run payroll reports in QuickBooks, let's first discuss why payroll reports are essential for your business. QuickBooks Pro includes a total of 13 payroll and employee reports.

They calculate the net amount given to the employee in addition to the gross amount for wages and salaries. For each given pay period, the wages and salaries earned by the company's employees during that time period serve as the foundation. The basic payroll report itself is composed of multiple sections that are useful not just for this report but also for the business as a whole.