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cartuneautorepai
cartuneautorepai
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posted
‎12-11-2018 12:13 PM
last updated ‎December 11, 2018 12:13 PM

The payroll expense section in the "profit and loss detail" changed to gross pay only and does not show net pay.

Previously when we looked at profit and loss detail, the payroll expense deducted all tax deductions and only showed net pay. Then something happened and it only shows gross pay.
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Best answer 12-11-2018
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BRC
BRC
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‎12-11-2018 12:13 PM

Deductions from an employee's paycheck are not expenses t...

Deductions from an employee's paycheck are not expenses to you.  They should never appear on your P&L.  Only income and expense activity belongs there.

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Michelle-Long-CPA
Michelle-Long-CPA
Community Contributor ***
‎12-11-2018 12:13 PM

It should be gross pay + the employer's share of payroll...

It should be gross pay + the employer's share of payroll taxes.
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cartuneautorepai
cartuneautorepai
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‎12-11-2018 12:13 PM

how can you make it show the payroll tax deductions?

how can you make it show the payroll tax deductions?
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Michelle-Long-CPA
Michelle-Long-CPA
Community Contributor ***
‎12-11-2018 12:13 PM

You can see the payroll tax deductions in the payroll lia...

You can see the payroll tax deductions in the payroll liability account(s) and on reports.
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cartuneautorepai
cartuneautorepai
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‎12-11-2018 12:13 PM

I would like to know how to make payroll tax deductions s...

I would like to know how to make payroll tax deductions show in the profit and loss detail only.
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Michelle-Long-CPA
Michelle-Long-CPA
Community Contributor ***
‎12-11-2018 12:13 PM

They aren't an expense.  Let's say you pay someone $500 g...

They aren't an expense.  Let's say you pay someone $500 gross -- that is payroll expense.  The deductions for federal & state income taxes and fica & medicare are posted to payroll taxes payable (a liability account).
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cartuneautorepai
cartuneautorepai
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‎12-11-2018 12:13 PM

That is what i've been reading through my research, but p...

That is what i've been reading through my research, but previously before today, it did add tax deductions before. It always showed the net pay instead of the gross pay previously.
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Michelle-Long-CPA
Michelle-Long-CPA
Community Contributor ***
‎12-11-2018 12:13 PM

Perhaps you were looking at it in the check register or e...

Perhaps you were looking at it in the check register or elsewhere?
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cartuneautorepai
cartuneautorepai
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‎12-11-2018 12:13 PM

No, it was always "profit and loss detail". Thank you for...

No, it was always "profit and loss detail". Thank you for trying to help anyways.
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Michelle-Long-CPA
Michelle-Long-CPA
Community Contributor ***
‎12-11-2018 12:13 PM

Smile

:smile: Smile
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BRC
BRC
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‎12-11-2018 12:13 PM

Deductions from an employee's paycheck are not expenses t...

Deductions from an employee's paycheck are not expenses to you.  They should never appear on your P&L.  Only income and expense activity belongs there.

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pennybwight
pennybwight
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‎12-11-2018 12:13 PM

I have intuit online payroll - entered to my intuit onlin...

I have intuit online payroll - entered to my intuit online quickbooks.  Intuit enters the payroll info that is reflected on my P & L.  My P & L shows "paychecks" without deductions subtracted.  I also use quickbooks - banking  and paychecks withdrawn from my bank account do NOT match "paychecks" entered by intuit online payroll.  Further, Intuit online payroll doesn't doesn't submit to the right correct BANK in my chart of accounts, thus adding to the confusion.  It didn't, then it did, and now it doesn't again.  What should I do?  My payroll summary report is OK and I use that for my Sched C taxes, but it would be lovely to be able to correctly reconcile my bank account, not have duplicate entries, and especially to have a usable P & L report.  Thanks in advance for your help!
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Michelle-Long-CPA
Michelle-Long-CPA
Community Contributor ***
‎12-11-2018 12:13 PM

I don't know what level of payroll service you have, but...

I don't know what level of payroll service you have, but since you said 'Intuit enters the payroll info' it sounds like you may have Full Service Payroll.  I suggest you contact payroll support for help and have them answer your questions.
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qbteachmt
qbteachmt
Established Community Backer ***
‎12-11-2018 12:13 PM

"it did add tax deductions before. It always showed the n...

"it did add tax deductions before. It always showed the net pay instead of the gross pay previously."

Not the P&L, if payroll is set up and used correctly. The expense is Gross Wages + Employer Taxes. The Employer has a Matching amount for Social Security and Medicare, which is seen on the P&L as expense and you might have thought that was the withholding, but it is not.

You can see the difference by looking at the Payroll Summary report, if you use desktop payroll.
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