A QuickBooks Payroll Summary Report is a report that gives a complete overview of an employee’s paycheck details for a specified period. It is a way for business owners or accountants to keep track of how much they are paying employees in total, counting wages, taxes, benefits, and deductions. The report is expandable to show stats for any other period as well, be it weekly, monthly, or yearly. It can be useful to review payroll expenses, prepare for tax filing, and ensure that every one of your employee payments is accurate.
Using QuickBooks, the report can be quickly produced to ensure the company is in compliance with tax law. It also provides an easy filing reference for financial records. It is a fantastic tool for keeping track of payroll costs and efficiently paying employees.
What is the QuickBooks Payroll Summary Report?
Here are the components that the QuickBooks payroll summary report contains.
- Gross Pay: Gross pay is the total amount received before taxes and deductions.
- Adjusted Gross Pay: Gross pay less any pre-tax deductions is known as adjusted gross pay.
- Net Pay: The sum obtained after deductions and taxes.
- Taxes and Contributions: It displays the total amount accumulated over the report’s time frame.
Create a QuickBooks Payroll Summary Report
QuickBooks Online makes it easy to generate reports, which can help you track your business finances. Here’s how to pull up the payroll report for the employee contact list in QuickBooks Online.
- Select Reports from the left side.
- Search and select Payroll Summary from the Reports search bar.
- Set the date range using the date picker.
- Click Run Report to generate the report.
- Now, click on the Customize button at the upper right.
- In Rows/Columns or Display, uncheck the Boxes for Hours and Rate.
- If changes are made, click “Run Report” again.
- Click the print icon on the upper right.
- Select Report to print the current view of the Payroll Summary.
How Can I Edit the QuickBooks Payroll Summary Report?
There is a process to edit the Payroll Summary Report in QuickBooks, which varies slightly, according to whether you are using QuickBooks Online or QuickBooks Desktop.
In QuickBooks Online, start by selecting Reports from the menu on the left. Look for Payroll Summary and then tap on the same. Click the Customize button located in the upper-right corner of the report when it has been opened. This will give you the flexibility to modify the date range, columns, filters, and sorting as you would like. You can filter by certain employees, pay types, or accounts, and you can choose which payroll details like wages, deductions, or taxes display on the report. Pressing the Run Report will store your changes after they have been made.
For QuickBooks Online
- Select Reports from the left menu.
- Search for and then open Payroll Summary.
- Click Customize on the top right.
- Set your date range that you want.
- Choosing your columns to show employee name, pay type, etc.
- Applying filters like by employee, pay type, or account.
- Selecting which payroll details to show, such as wages, taxes, or deductions.
- After customization, click Run Report to view your changes.
For QuickBooks Desktop
- Click Report in the menu bar.
- Click Payroll Summary, under Employees and Payroll.
- Set the date range from the top of the report.
- Click Customize Report.
- Click OK to apply changes.
How can I print the QuickBooks Payroll Summary Report?
This is how you print the Payroll Summary Report.
- Select the Reports tab on the left side.
- Locate and select the Payroll Summary Report.
- If you need to modify the report’s date range, columns, and filters, click Customize.
- Click Run Report to have the changes take effect.
- Click Print to finish after the printer settings are displayed in the print preview.
- Modify the print settings via the print preview and select Print to confirm the changes.
How Can a Specific Payroll Summary Report Be Exported to Excel?
The following Steps can be performed to Export a Payroll Summary Report:
- Click the Excel drop-down arrow in the provided report should be clicked.
- Options include updating the current worksheet or creating a new one.
- If you select Update Existing Worksheet, you can choose the workbook by using the Browse button.
- Choose the Advanced Button.
- Remove any existing space from the checkbox columns.
- Click OK.
- Choose Export to complete the process.
How can the QuickBooks Payroll Summary Report be deleted?
In QuickBooks, you cannot delete a Payroll Summary Report because it is a pre-built report that is generated based on your payroll data. Reports are not stored permanently as individual entities in QuickBooks, so there’s no option to delete them. However, you can:
Cancel or Void Payroll Transactions
- In QuickBooks Online:
- Choose Payroll on the left.
- Find the payroll transaction (sale or stipend).
- Click on Cancel or Void, as appropriate.
- For QuickBooks Desktop:
- Select Workers.
- Open Payroll Center.
- Locate the payroll transaction or stipend.
- Click Cancel or Void.
Reset a Customized Payroll Summary Report
- Open the Payroll Summary Report and click on Customize.
- Remove customizations or reset the applied filters to the default.
- This would reset the report to its default view.
Delete Saved Custom Reports
- In QuickBooks Online:
- Go to Reports.
- Under Custom Reports, locate the specific report for the user.
- Select the saved version you wish to delete and proceed with its removal.
- In QuickBooks Desktop:
- Select Reports.
- Go to Memorized Reports.
- Locate and delete the saved version of the report that is no longer needed.
Conclusion
In conclusion, the Payroll Summary Report feature in QuickBooks is a helpful tool for businesses to keep track of payroll expenses. Keeping track of all of the monies that are paid out as wages for each employee, as well as taxes and deductions, so that the books are correct. This report further increases financial transparency and assists with the making of informed decisions, by also providing a detailed breakdown of earnings, taxation, and company contributions.
QuickBooks allows users to look up historical payroll data, giving them the ability to monitor trends over time and maintain compliance with federal and state laws. Moreover, the ability to export the report to various formats simplifies data sharing and integration with other financial systems.
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