PAYROLL REPORTING – TAXES

PERFECT FIT reports on the Payroll Records by dividing up the Employer’s and the Employee’s share of the taxes. The Payroll Reports > Pay Periods looks at the EMPLOYEE’s share of the payroll taxes. The Payroll Reports > Payroll Taxes looks at the EMPLOYER’s share of the payroll taxes. In order to figure your tax deposit you will need to run both these reports, and add the appropriate numbers together to see how much to pay.

However, if you pay the taxes for the previous period before posting the current period, you can go to Transactions > Pay Taxes. These default numbers are the current balances on the Payroll GL Accounts, and should correspond to the above reports, assuming all taxes have been paid for the previous period.