How to Run QuickBooks Payroll Quarterly Reports?

QuickBooks Payroll comprises employee data to track tax deductions, withholdings, and pension contributions. For successful financial management and adherence to regulations, arranging such data is crucial. QuickBooks Payroll reports assist businesses in handling such data with convenience.

QuickBooks Online generates multiple employee and payroll reports with ease that highlight financial position and pay patterns. QuickBooks Online payroll provides 17 insightful reports, like:

• Payroll Costs
• Workers’ Compensation Details
• Employee Summaries
• Tax Liabilities, etc.

Such reports provide clear business insights into tax responsibilities and labor expenses. Consequently, these reports aid in informed decision-making for businesses.

This guide includes key information about Payroll Quarterly reports in QuickBooks Online and Desktop. It includes information about how to run and print reports in QuickBooks and generate Form 941.

What are QuickBooks Payroll Reports?

A QuickBooks Payroll Report includes tax deductions, net pay, gross pay, and withholdings of an employee. It displays the payroll data for a particular period to monitor wages and determine payouts. Payroll data can include a quarter, one pay period, or a year.

These reports are issued by QuickBooks from the payroll records. These reports display accurate numbers for business liabilities and employee pay. 

For businesses, these reports act as a boon. These reports are used for financial reviews, tax submissions, and wage management.

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What are the benefits of QuickBooks Payroll Quarterly Reports?

The list of benefits offered by QuickBooks Payroll Quarterly Reports exceeds tax returns and filing. These reports assist in enhancing financial management and aid in essential business functions.

Here is the list of benefits:

• Efficient Tax Reporting
  • Payroll reports offer the needed data for precise and prompt submissions, making tax filing simple.
• Better Budgeting
  • Reports improve financial strategy and resource management, assisting in determining payroll costs.
• Correct PTO Management
  • Reports help avoid issues in leave records by monitoring employee-paid time off.
• Comprehensive Employee Data
  • Reports help track benefits and payroll precisely by displaying retirement savings and tax deductions. 

How to Print QuickBooks Payroll Quarterly Reports in QuickBooks Online?

QuickBooks Online login enables you to issue and print payroll reports. These reports can be generated for any tenure throughout each quarter. 

Here are the steps to prepare, customize, and print quarterly payroll reports in QuickBooks Online. :

1. Sign in to QuickBooks.
2. Click the “Reports” option available on the left side of the menu. Hit the three-line icon available on the top left side, in case the menu is not visible. Tabs for Customized, Standard, and Management reports will be visible.
3. Select the “Payroll Details” or a different report. For all the reports, the process will be the same. To open it, click the report name.
4. Choose a fixed quarter by using the drop-down. You can also select the “Custom” button. Use the calendar icons to add the date range or you can just type the dates.
5. Choose “Employees” by clicking the “Employee” button drop-down. Choose all single, active, and inactive employees.
6. To filter the data, use the Work Location if possible.
7. Press the “Run Report” option to issue the payroll data for the chosen filters and periods.
8. Press the “Share” icon. Select the option “Export to Excel” to get the report in XSL file format.
9. Press the “Printer” icon and save the report as PDF.

Read More: Upgrade QuickBooks Desktop 2024

What are the Types of Payroll Reports in QuickBooks Online?

QuickBooks Online offers 17 insightful payroll reports. All the reports include comprehensive payroll information that assists in handling taxes, employees, and benefits. Using date, work location, or employee, the reports can be personalized.

1. Employee Details – Displays contact details, tax deductions, wages, and withholdings.
2. Employee Directory – Includes employee contact information and work location.
3. FFCRA CARES Act Report – Monitors COVID-19-related compensation and benefits.
4. Numerous Worksites – Offers information for state-approved reports for various job sites.
5. Payment History – Shows previous paychecks, payment options, and updates
6. Payroll Billing Summary – Includes the charges applied to your payroll account
7. Payroll Deductions/Contributions – Combined totals for employee withholdings and employer payments.
8. Payroll Details – Provides a breakdown of earnings, taxes, and deductions.
9. Payroll Summary – Gives total figures for earnings, taxes, and deductions.
10. Payroll Tax Liability – Displays due taxes and completed payments.
11. Payroll Tax Payments – Shows payroll taxes already paid.
12. Payroll Tax and Wage Summary – Displays total and taxable wages by location.
13. Retirement Plans – Displays employee and employer retirement contributions.
14. Total Pay – Details each employee’s pay by category.
15. Total Payroll Cost – Summarizes overall payroll expenses, including tax and deduction amounts.
16. Vacation and Sick Leave – Monitors PTO taken and available for each employee.

How to Run a Payroll Report in QuickBooks Desktop?

Here are the steps to run and access the payroll reports in QuickBooks Desktop 2024:

General Payroll Reports:

1. Head to the “Reports” option. Now choose the option, “Employee and Payroll”.
2. Select the payroll report required to check.
3. Choose the option “Customize Report” if required. 

Workers’ Compensation Report:

1. Head to the “Reports” option. Now click the option “Employees and Payroll”.
2. Select one of the following:
   • Worker comp by Code and Employee
   • Worker comp Listing
   • Workers Comp Summary
   • Workers Comp Listing
   • Fix the date range

Sick, Vacation, or Time Off Report:

1. Head to the “Reports” section and then click the “Employees and Payroll” option.
2. Choose the “Time Off List” or “Employee Contact List” option.
3. Click the “Customize Report” option.
4. In the “Display” tab, select:
   • Vacation limit, Vacation used, Vacation available.
   • Sick available, Sick limit, Sick used.
5. Press the “OK” button.
6. Fix the required date range.

How to Run Quarterly Payroll Reports in QuickBooks Online?

Here are the steps to run quarterly reports in QuickBooks Online:

1. Head to QuickBooks Online.
2. Sign in with the credentials.
3. On the left side, choose the option “Payroll”.
4. Press the option, “Reports in the Payroll section”.
5. Choose one of the reports depending on your requirements:
   • Payroll Details
   • Payroll Summary
   • Employee Details
   • Quarterly Tax Forms 
   • Tax Liability
6. Access the dropdown for Date Range.
7. Select the relevant period.
8. Fix custom dates for the period.
9. Press the “Run Report” option. Check the report available on the screen. 
10. Press the “Print” or “Export” icon to print or download the particular report.

How to Generate Form 941/Schedule B or Form 940 in QuickBooks Desktop?

Here are the steps to generate Form 941/Schedule B or Form 940:

1. Open the QuickBooks Desktop application. 
2. Now head to the Employees menu.
3. Click the W-2s and Payroll forms. 
4. Now choose the option, “Process Payroll Forms”.
5. Choose the form required to process in the File Form screen. 
6. Press the File Form. Now, from the drop-down menu, select the Quarter or Year and the related Quarter Completion Dates.
7. Press the “OK” button.
8. Check the form information and press the Next button to keep processing.
9. Review the form details to verify all is perfect.
10. Add information in the missing field, and the new data will turn blue.
11. To rectify information, press right-click on the field and choose the option, Override. Now add the new data in the given Override Box and click the tab. The new data will be reflected in green to show a change.
12. Lastly, press the “Submit Form” button to file the form.

Final Words

QuickBooks Payroll Quarterly reports help businesses to monitor finances, determine sales patterns, handle payroll, and get insights. These reports are of great assistance to small and mid-sized businesses to make updated and knowledge-driven decisions.

In this guide, complete information about QuickBooks Payroll Quarterly Reports has been stated. Still, if there is any confusion or doubt, feel free to reach out to us.

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