"Running Advanced Payroll Reports in QuickBooks Online "

1. Accessing Reports:?

??- Navigate to the "Reports" section in QBO. Under the "Payroll" or "Employees" category, you will find a list of payroll-related reports.

2. Payroll Summary Report:?

??- This report provides a comprehensive overview of wages, taxes, and adjustments for a specified period. It helps in getting a quick snapshot of the total payroll expenses.

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3. Employee Details Report:?

??- Drill down into individual employee payroll details. This report captures earnings, deductions, and tax details for each employee.

4. Payroll Tax and Wage Summary:?

??- Use this report to understand the breakdown of payroll taxes. It helps businesses ensure they're setting aside the right amounts for tax obligations.

5. Payroll Liability Balances:

??- This report offers insights into outstanding payroll liabilities, such as unpaid employee benefits or tax withholdings.

6. Total Pay:

??- Gain insights into the total pay given to employees, broken down by type – regular pay, overtime, bonuses, and other compensation types.

7. Worker's Compensation:

??- For businesses that need to manage worker's compensation insurance, this report provides details on wages applicable to worker’s compensation, aiding in premium calculations.

8. Customization:

??- One of the strengths of QBO's reporting features is customization. You can modify date ranges, filter data by employee or pay type, and adjust columns to view the data that matters most.

9. Visual Analytics:

??- Some advanced versions of QBO offer visual representations of payroll data, such as pie charts or bar graphs, to help businesses quickly grasp their payroll dynamics.

10. Export and Share:

??- Once you've generated a report, you can export it to various formats like PDF or Excel. This is useful for sharing data with stakeholders or for deeper analysis.

11. Schedule Reports:

??- For reports you need to view regularly, set them up on a schedule. QBO can automatically generate and even email these reports at specified intervals.

12. Integration with Time Tracking Tools:

??- If you use external time tracking tools integrated with QBO, you can run advanced reports that combine payroll data with time worked, giving insights into labor costs vs. hours worked.

13. Stay Updated:?

??- Tax rates, contribution limits, and other regulatory numbers can change. Regularly review and update these figures in QBO to ensure that your reports remain accurate.

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