QuickBooks Creating a More Meaningful Payroll Expenses Section

12 thoughts on “QuickBooks Creating a More Meaningful Payroll Expenses Section

  • Hello Larry
    I’m going to be really honest with you, it can be done BUT it’s a lot of work not only to set up but to maintain if you want it to the penny.

    Most people map the payroll wage items to the specific G/L accounts, set the tax items, etc. to track expenses by job and deal with the “close enough”.

    If you’d like to discuss this further, give me a call at (888) 348-2877. I’m on the East Coast.

  • Larry

    Hello Nancy,

    We have four payroll g/l accounts-
    1)- Officer;
    2)- Admin;
    3)- Operations;
    4)- Hourly

    The Hourly payroll is allocated to each customer’s construction job in QB. Items (1)- (3) are not allocated to the jobs. How should we set up the Payroll Item Listing to capture w/c, liability insurance, FUTA, SUTA and employer taxes attributable to the Hourly payroll and have the costs allocated to the customer’s construction jobs in QB? We also want the Payroll Item Listing to capture the w/c, liability insurance, FUTA, SUTA and employer taxes attributable to Items (1)- (3) but not allocate the cost to the jobs in QB.

    We use QB Enterprise v15.0 Contractors Edition.

  • Angela
    Unfortunately QuickBooks will only post the taxes to a single set of accounts – you can try a journal entry – but make sure that you make a backup before you try it.

  • Angela

    We have two departments that we are using the classes function for so we can run profit & loss statements separately when needed. I have two separate payroll expense accounts created in the chart of accounts with specific payroll items setup for those. I have not determined how to split the tax expense for the company match on SS/Medicare between these payroll expense accounts. Is it possible to have the company match post transactions to different payroll expenses? Whenever payroll is done, the gross wages will report to the proper payroll expense account but the associated tax expense will all post to just one payroll expense account.

  • Hi Cami
    Thanks so much for taking the time to leave a comment! I’m happy to hear that this post has helped you to become less frustrated over the information that was appearing in your P&L! Hope you drop by again, there are a lot more articles like this here.

  • cami

    Thank you so much for this post! I only know basics in qb, but this was very detailed and it helped me so much. I was frustrated with my P&L, now it’s more helpful to me 🙂
    I appreciate the time you put into this.
    Thanks again,

  • John
    Thanks for stopping by. I agree with you, some companies require a more robust method of tracking budgets and the ability to achieve robust forecasting. Your software looks quite interesting. I see it interfaces with Sage products; any plans for QuickBooks integration?

  • Quickbooks is a useful tool, however some companies need a solution that offers more. In order to grow, a company needs a budgeting system that has forecasting capabilities and is more streamlined across departments.

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