Welcome to the Community, @Hrstar. I'm here to elaborate on the differences between the products you have mentioned above and how to utilize the reports offered by them.
Standalone QuickBooks Online Premium Payroll is a different platform from QuickBooks Online Advanced. Worry less. I'll share with you the details. A standalone payroll subscription is designed only to manage your employees or any transactions that relate to paying and managing your team inside the business. Thus, reports available in the subscription are limited to its only functions.
Whereas, QuickBooks Online Advanced is an application that works on managing the accounting side of your business. In addition, this is the highest version of all QuickBooks Online products, acquiring advanced accounting features that keep you moving at a fast pace even as the workload increases.
If you're planning to run payroll entries using the reports on your QBO Advanced, this can be inapplicable. The QBO app has payroll features that you only need to enable to manage your business and employees at once. What we can do is export your payroll data into your QBO Advanced. This way, data from your payroll is transmitted to your Advanced and enables us to run reports from there.
To start exporting your data and exhausting the advanced reporting features of your QBO Advanced, we can begin setting up your premium payroll preference with the steps below:
- Log in to your Premium Payroll account and navigate to the Gear icon.
- Select Payroll settings.
- Scroll down to the Export section, and click Edit.
- In the Export Preferences window, choose QuickBooks Online and log in to your account to sync them.
- Then, select the company your payroll transactions should sync to. Then, hit Continue.
- After QuickBooks creates default accounts for your wages, expenses, and liabilities. Select Edit to make changes.
- Once complete, select Done twice.
To start the exporting process, you can proceed to Step 2: Export your payroll transactions in this article for complete guidelines: Export your payroll data into QuickBooks.
For references, you can view these resources about the available reports of your subscription and how it works:
See this article to guide you in creating custom reports in your QBO subscription and memorize it to save your previous customization:
I'll keep an eye on this thread to ensure your questions are being addressed accordingly. If you have additional inquiries about managing transactions, please don't hesitate to post them to the Community. Stay safe!
