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Types of Payroll Reports

Overview

In this article we will touch on the types of reports you can expect. There are several reports that will be available for you through OnTheClock Payroll. 

  • Payroll Summary
  • Payroll Journal
  • Tax Liabilities

Payroll Summary Report

The payroll summary report will list employees' earnings, deductions and taxes aggregated for a specific period.  This report is useful in helping you understand you payroll expenses and helps ensure compliance and tax obligations are met. 

  • Employee Earnings: The total gross pay for each employee
  • Deductions: Are any pre-tax and post-tax deductions that were applied.
  • Taxes: Total taxes withheld from employees' pay. 
  • Net Pay: This is the final amount an employee is paid after any deductions and taxes. 

Payroll Journal Report

This report is important because it showcases detailed payroll accounting for each payroll which is critical for auditing purposes. The details you can expect on this report type include: 

  • Employee Details: Information about the employee included in the payroll.
  • Earnings: Breakout of regular and overtime earnings.
  • Deductions: Detailed list of pre-tax and post- tax deductions. 
  • Taxes: The specific taxes withheld from each employee's pay.
  • Net Pay: This is the final amount after deductions and taxes paid to the employee.

Tax Liabilities

This report will help you understand tax obligations and help with timely remittance to tax authorities. On this report you can expect to find the following items:

  • Federal Taxes: Total federal income tax withheld, Social Security, and Medicare taxes. 
  • State Taxes: State income tax withheld and any other applicable state taxes.
  • Local Taxes: Any local taxes withheld, if applicable.
  • Employer Taxes:  The employee share of Social Security, Medicare, and unemployment taxes. 
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