Quarterly Reporting and Reconciliation
Quarterly Reporting Checklist
You want to take time to reconcile each quarter. When you reconcile a quarter, you are making sure everything in the quarter is balanced and everything looks good. Reconciling helps you identify any problems, fix them, and start the next quarter knowing that the last quarter is balanced.
Reconciling every quarter will also help you when it's time to close the payroll year. Because you've taken the time to reconcile each quarter, it's easier to troubleshoot any issues because you're focused on the last quarter instead of trying to fix issues that may have occurred during the payroll calendar year.
Quarterly Reporting Checklist
Download the Quarterly Reporting Checklist [XML]. And then use the options in Manage Checklists to import the XML.[More]
Payroll main menu, Quarterly Reporting Checklist
Quarterly Reporting Webinar
Watch the entire webinar or focus on a step in the quarterly reporting checklist.
Watch a video - Quarterly reporting and reconciliation
Step 1. Before you get started [MP4]
Step 2. Verify pay code information [MP4]
Step 3. Verify quarterly federal tax [MP4]
Step 4. Verify additional quarterly reports [MP4]
Step 5. Print transmittals [MP4]
Step 1. Before you get started
Verify the reporting quarter and close the last payroll of the quarter.
Step 2. Verify pay code information
Note: This step is the same process you follow when you run the payroll year-end checklist.
Review the maximum wage limit for the following pay codes:
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Social security
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Medicare
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Any pay code with a maximum wage limit
When you're done, run Checkout to search for errors, review the subject to pay codes, and verify Box 10, 11, 12, and 14 on W-2s.
These help topics were created for the payroll year-end checklist, but you can use them to complete the quarterly reporting tasks if you change the report date range to match the reporting quarter.
How do I verify the pay code information?
How do I verify IDs for federal and state pay codes?
How do I review subject to pay codes?
How do I verify W-2 Box 10, 11, 12, and 14 settings?
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What is the not subject amount column?
Step 3. Verify quarterly federal tax
Review and verify quarterly federal tax information and amounts. You can use the pay code transaction report, payroll history, or employee tax summary to reconcile the quarterly 941 amounts. The link below will show you how to use the pay code transaction report to reconcile quarterly 941 information and amounts.
How do I reconcile my SUTA quarterly report?
What is line 1 on the 941 Report?
How do I make a pay code transaction report to reconcile SUTA quarterly reporting?
How do I submit the 941 quarterly report?
How do I change the report date range for quarterly reports?
Step 4. Verify additional quarterly information
Review and verify quarterly reports for state-specific information and amounts. The most commonly used state-specific reports are listed below, however, your state may require additional reports or your state may not require a report that's included in the list. You will need to customize this step with the state reports you will need to file.
How do I review state combined report?
How do I review workers compensation transactions?
How do I review state withholding tax?
What if I don't know my state requirements for quarterly reporting?
What if an employee isn't showing up on the workers compensation report?
Step 5. Print transmittals
After you have balanced and reconciled the quarterly reports, you are ready to print transmittals to pay the taxing agencies. You will need to find out how the taxing agency prefers payment and then follow their instructions to submit payment.
How do I print quarterly transmittals?
Troubleshooting
How do I change the report date range for quarterly reports?
How do I print a line between report columns?
What if the report does not show the expected information?
What is the not subject amount column?
What if an employee isn't showing up on the workers compensation report?
Do I need a terminated date on the job and employee position?
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