If you're using Quickbooks Payroll to pay your employees, we'll need some input from you to get your payroll details correctly recorded in your books. For a more automated option, check out Gusto for payroll. Finaloop integrates directly with Gusto to pull this info automatically.
In the meantime, just follow the directions below and you'll easily find exactly what you're looking for.
Login to your Quickbooks.
On the left-hand bar, select “Reports”.
Under Payroll, select Paycheck History report.
Select the relevant pay date. For the total salaries & wages paid to employees, look under the column that says “Net pay”.
Go back to the "Reports" tab and, under Payroll, select the Payroll tax payments report.
Open the Payroll tax payments report. Select the relevant payment date and split between employee and employer taxes to accurately track your payroll taxes by clicking on the relevant transaction and following these steps:
Federal Taxes (941/943/944):
Employer taxes amount is the sum of “Social Security Employer” plus “Medicare Employer”.
Employee taxes amount is the sum of “Federal Income Tax” plus “Social Security” plus “Medicare. ”
State Income Tax:
Report the total amount as employee taxes.
Federal Unemployment (940):
Report the total amount as employer taxes.
State Unemployment:
Report the total amount as employer taxes.
State Employment Taxes:
Report all tax items ending with “Employer” as employer taxes (for example, “SUI Employer”). Report the rest of the tax items as employee taxes.
All other state taxes:
Report the total amount as employer taxes.
Note that the “Payment date” presented in Quickbooks’ reports can be 1-3 days before the transaction date reported in your bank.