Create a Payroll Summary Report in QuickBooks

Payroll can be a daunting task for small businesses. That’s why it’s important to have a system in place that makes it as easy as possible for you to compile and report on your company’s financial data. One such system is QuickBooks, which can be used to generate payroll summary reports. This document can help you track your employee expenses, income, and more. In this blog post, we will walk you through the steps necessary to create payroll summary report in QuickBooks.

What is a Payroll Summary Report?

A payroll summary report is a great way to keep track of employee expenses and income. This report is also an important tool for understanding your company’s financial health. A payroll summary report includes information such as salaries, wages, bonuses, and other forms of compensation paid to employees during the past month. The report can also include information about taxes withheld from employee paychecks. You can generate a payroll summary report in QuickBooks by clicking on the “Reports” tab, selecting “Payroll Summary,” and then filling out the necessary fields.

How to Create a Payroll Summary Report in QuickBooks

QuickBooks is a great tool for managing your payroll, but sometimes you may need to create a summary report of your payroll data. This article will guide you through the steps needed to create a payroll summary report in QuickBooks. 

1. First, open QuickBooks and click on the "Payroll" menu item from the main menu bar. The "Payroll Summary Report" dialog box will appear.
2. In this dialog box, you will need to select the date range for which you want to generate a summary report. You can select any date range that covers the entire period of your payroll records (for example, all months or all year). Click on the "Next" button to continue.
3. The next step is to select the accounts that you want included in your summary report. You can include any accounts that contain information about your employees' paychecks (for example, an employee's name, job title, salary information, and so on). To include an account in your summary report, just click on it in the list box and then click on the "OK" button.
4. Now it's time to configure some of the report's other settings. The first option is "Report Type." This setting determines how detailed your summary report will be (for example, whether salary information will be displayed separately for each pay period or combined into one total sum for each employee). The available options are "Summary by Pay Period," "Summary by Account," and "Summary by Employee."
5. The second option is "Report Layout." This setting determines the format of the report (for example, whether salary information will be displayed in a table or as text). The available options are "Table," "Text," and "HTML."
6. Finally, you will need to decide how you want to print your summary report. You can print it as a PDF file or as a printed report. Click on the "Next" button to continue.
7. The next step is to configure some settings related to tax withholding. The first option is "Number of Wages to Include." This setting determines the number of paychecks that will be included in your summary report (for example, if you have more than one paycheck per week paid out to an employee). The default value is 10 paychecks. To change this value, just enter the new number in the field and then click on the "OK" button.
8. The next option is "Item Type." This setting determines which information will be included in your summary report (for example, salary or wage information only). You can select one of the following item types: "Salary," "Wage and Tax Information," or "Compensation Detail."
9. The next option is "Gross Wages and Tax." This setting determines the gross wages and taxes that will be included in your summary report. You can enter the gross wages and taxes that you actually paid out to your employees in the "Gross Wages" field and the taxes that you withheld from their paychecks in the "Taxes Withheld" field. To include extra information (for example, bonus payments or commissions), just click on the "Add another field" button and then enter the appropriate data in the fields that appear.
10. The last option is "Printing Options." This setting determines how your summary report will be printed (for example, whether it will be a PDF file or a printed report). The available options are "PDF," "Print," and "None."
11. Click on the "Next" button to continue.
12. The next step is to configure some settings related to employee information. The first option is "Report Layout." This setting determines how employee information will be displayed in your summary report. The available options are "Table," "Text," and "HTML."
13. The next option is "Font Size." This setting determines how large the font will be when displaying employee information in your summary report.

What to include in the Payroll Summary Report

QuickBooks payroll reports are an important tool to keep track of your company's financial health. Below is a list of items you should include in your payroll summary report: 

1. Total Wages and Overtime Paid
2. Number of Employees
3. Cashier Check Counts
4. Payroll Deductions
5. Employee Stock Ownership

How to Print a Payroll Summary Report

If you need to print a Payroll Summary Report in QuickBooks, follow these steps:

1. In QuickBooks, click the Reports tab and choose Payroll Summary.
2. On the report layout, select the time period you want to print the report for and choose your printer.
3. Click Print.
4. If you need to print multiple reports, repeat these steps for each report.
5. When you’re done printing, close QuickBooks.

If you need to print a Payroll Summary Report in Microsoft Excel, follow these steps:

1. Click File > Print.
2. On the Print page, select the job or report you want to print and then select the number of copies you need.
3. Click OK.
4. In Excel, click the Worksheet tab and select the cell where you want to start printing the report.
5. Click the arrow next to Page Setup and choose From Printer.
6. In the Select Printer dialog box, select your printer and then click OK.
7. In Excel, click anywhere outside of the cell where you want to start printing the report and press Ctrl+P (or Cmd+P on a Mac).
8. When Excel finishes printing, close it by clicking File > Close.

Conclusion

Payroll is one of the most important aspects of any small business, and it's essential that you have a good system in place to keep track of your finances. In this article, we're going to show you how to create a payroll summary report in QuickBooks. This report will give you a detailed overview of your payroll expenses and income for the past month, and it will help you identify any potential problems or issues early on. So whether you're just starting out with QuickBooks or you've been using it for years, learning how to create a payroll summary report is an important skill that will help you stay organized and on top of your finances.

Reference: https://cursedmetal.com/blogs/30423/How-to-Create-a-Payroll-Summary-Report-in-QuickBooks