![]() In an employee payroll report, a payroll administrator may see information such as wages and payroll deductions for a specific employee. This information can help business owners with budgeting out employee costs. These reports are used internally and can provide a big-picture view of your business’s overall payroll expenses for the pay period. Payroll summary reportsĪ payroll summary report provides a great overview of your payroll activity, including the total gross pay, adjusted gross pay, net pay, and all employer taxes and contributions. Read along to learn more about common types of payroll reports and their uses. Throughout the payroll process, you may generate different types of payroll reports for various reasons, such as tracking your employees’ use of paid time off and their total hours worked. Now that you understand the benefits of payroll reporting, let’s look at the different types of payroll reports your business can utilize. Actionable employee data: Lastly, payroll reports provide you with actionable employee data that allows you to see a variety of insights, from total retirement contributions to total tax withholdings for each employee.Accurate paid time off (PTO) tracking: You can use payroll reports to help keep track of your employees use of PTO, allowing you to make sure people are using their time off appropriately.Valuable budgeting information: Payroll reports provide important data that can help you predict your payroll expenses and allow you to make informed decisions.Streamlined tax reporting: When it comes time to file your small business taxes, having the proper payroll reports can help make the tax filing process run more smoothly. ![]() ![]() By maintaining accurate payroll reports, your business can reap the following benefits: While filing taxes requires some payroll reports, you can also use them internally to help make your life a little bit easier. So what exactly is a payroll report, and what are the different types you can use for your small business?įollow this guide to learn more about payroll reports and how to use them to meet payroll reporting requirements and gain actionable insights for your business. Fortunately, you can leverage payroll reports to gain a bird's-eye view of your payroll process. As a small business owner, you know that the payroll process requires keeping track of a lot of information.įrom tracking retirement contributions to payroll withholdings, there’s plenty of data associated with every paycheck and employee.
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