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Best answer October 26, 2022
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Thanks for always getting back here in the Community forum, Big-Al.
There's an Excel-based report that provides details about taxable wages. You just need to customize it to get the data you need about for social security and Sec 125 deductions. Here's how:
- Go to the Reports menu, scroll-down to Employees and Payroll, and then look for More Payroll Reports in Excel.
- Select Payroll Summary by Tax Tracking Type.
- Choose This Year under Dates and click Get QuickBooks Data.
- Proceed to the Detail Data tab.
Once done, click the drop-down list for Tax Tracking Type and check both social security employee and company. If all taxes are checked, click Select All to uncheck all of them.
After selecting the tax, go to the Income Subject To Tax and Wage Base columns. This will tell you if an employee has reached the annual limit under Income Subject To Tax. You can also see which employee is it in the Name section.
For Sec 125's wage base, you can then go back to the drop-down list for Tax Tracking Type and select the deduction item. Let me share this article for more details:
Don't hesitate to let me know if you're able to get the payroll data you need. You can also post follow-up questions if you need anything else.
Thanks for always getting back here in the Community forum, Big-Al.
There's an Excel-based report that provides details about taxable wages. You just need to customize it to get the data you need about for social security and Sec 125 deductions. Here's how:
- Go to the Reports menu, scroll-down to Employees and Payroll, and then look for More Payroll Reports in Excel.
- Select Payroll Summary by Tax Tracking Type.
- Choose This Year under Dates and click Get QuickBooks Data.
- Proceed to the Detail Data tab.
Once done, click the drop-down list for Tax Tracking Type and check both social security employee and company. If all taxes are checked, click Select All to uncheck all of them.
After selecting the tax, go to the Income Subject To Tax and Wage Base columns. This will tell you if an employee has reached the annual limit under Income Subject To Tax. You can also see which employee is it in the Name section.
For Sec 125's wage base, you can then go back to the drop-down list for Tax Tracking Type and select the deduction item. Let me share this article for more details:
Don't hesitate to let me know if you're able to get the payroll data you need. You can also post follow-up questions if you need anything else.
Hello, Big-Al.
I'm here to provide additional steps to get QuickBooks Desktop (QBDT) to populate the data of Income Subject to Tax and Wage Base.
First, you'll have to make sure that you have the latest QuickBooks release and tax table version on that one computer. Keeping your QuickBooks updated prevents unexpected issues within the program. Let me walk you through the steps.
- Go to Help, then Update QuickBooks Desktop.
- Select the Options tab, and tick the Mark All button.
- Click the Update Now tab, then put a checkmark on the Reset Update box.
- Hit Get Updates. Once the update is complete, restart your computer and right-click the QBDT icon then choose Run as Administrator.
Then, let's update your tax table version.
- Go to Employee, then Get Payroll Updates.
- Select the Download entire payroll update radio button.
- Click Update.
Once done, feel free to follow the steps again provided by my colleague JenoP above.
Lastly, to learn more about how QBDT generates Form 941: How QuickBooks Populates The 941. Each line found on the form has a short description of how it's populated.
You can always get back to me if there's anything else you need. I'll be around to help you out some more. Take care and stay safe.
