On the Income Statement Quickbooks records gross wages for the previous pay period

Hello tevchcarewn!

Let me explain how the payroll entries affect your reports.

When you run payroll, it'll be posted on your reports, such as Profit & Loss, based on the pay date and not based on the pay period. The same concept with the Constructive receipt which is a rule the makes the employer responsible for paying the taxes on the date they pay the employees.

In your example, if the pay period 08/15-08/31 was paid in September, then it'll be part of your September reports.

I added some links you'll want to check that can help you in running payroll reports:

• Run payroll liability balances report

• Create a payroll summary report

You can reply to this thread if you need more help with payroll. Take care!