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Desiree_7
Level 1

Processing of Online payroll for this week and processing of 2023 W-2's

This is our first year processing in-house payroll and W-2 through QB.

If this week's payroll pay period ends today 12/29 but does not pay until 01/02 do I continue to process payroll which would be for 2023 or do the EOY W-2's need to be processed first and then this week would be considered 2024?

1 Comment 1
KimberlyS
QuickBooks Team

Processing of Online payroll for this week and processing of 2023 W-2's

Welcome to the Community, Desiree_7.

 

I'm pleased to discuss how you should process payroll and W-2 forms in QuickBooks Online Payroll.

 

Please note that the pay date is the basis of your payroll, reports, forms, and tax liabilities. Hence, you'll need to continue processing your payroll if the pay date falls within December 2023, regardless of the pay period. If your pay date is within January, that's the time it will be considered part of 2024.

 

In addition, the check date, the time for employees to access their pay, is when wages are considered paid according to the IRS guidelines (the doctrine of constructive receipt).

 

Therefore, if the pay date is in 2024, the wages should be reported on the 2024 W-2 forms. You should process the end-of-year W-2 forms for 2023 before processing the payroll for 2024.

 

Moreover, I'm adding this resource here to help you submit your W-2 forms with QuickBooks: File your W-2 and W-3 forms.

 

Feel free to click the Reply button for additional questions when processing payroll W-2 forms or other related concerns in QuickBooks Online Payroll. I'm more than willing to help.

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