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bjk
Level 2

Breaking out Wage Taxes for production under COGS

I am being told the following: "If you are using QB for your payroll, you should be able to post the production wage taxes directly to that expense.  That information is in the employee set up area. (Where?)

That way you do not have to “break out” the wage taxes every year."  
I do not see how to do this. I have production wages set-up under a class "production" to help me calculate this but I have never seen how I can actually set it up to break out the taxes just for this group. Is this possible?

1 Comment 1
GebelAlainaM
QuickBooks Team

Breaking out Wage Taxes for production under COGS

Hello, @bjk. I'll make sure to help you with your concern.

Yes, you can set up an expense account for the items. Let me show you how to check it on the Lists.

Here's how:
 

  1. Select List at the top menu, then Payroll item list.
  2. From the Payroll Item, select a wage item. For example: Salary then double-click.
  3. Click Next.
  4. From the Expense Account section enter the account for tracking the expense.
  5. To save changes, select Finish.
     

You can pull up a Payroll Summary report to track payroll expenses by class and for the wage taxes that QuickBooks will generate automatically.

Here's how:
 

  1. Hover your mouse to the Reports menu, choose Employees & Payroll Reports and then click Payroll Summary.
  2. Select Customize report.
  3. From the Column drop-down list, choose Class.
  4. Click on the Filters menu and select Class on the search filter drop down. Then select the class you're using.
  5. Make any other changes to the report (if needed).
  6. Then select Ok to run the report.

To learn more, please check out this article: Tracking payroll expenses by class.

In case you want to print tor download the report you can just hit the Print dropdown in the upper part of that specific report. 
 

If you have any other clarification or additional information about payroll preferences, I'll be around to guide you. Stay safe!

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