The Quarterly Totals Report provides a consolidated summary of payroll activity for the selected quarter. It includes total wages, tax liabilities, and employer/employee contributions for Social Security and Medicare. This report is essential for quarterly tax filings, financial reconciliation, and compliance with federal and state regulations.
When to Use It
- Quarterly Tax Filing: To verify totals for federal and state tax returns.
- Audit Preparation: To provide summarized payroll data for internal or external audits.
- Financial Reconciliation: To reconcile payroll expenses and tax liabilities with accounting records.
Who Uses the Quarterly Totals Report, How Often, and Why
