The Payroll Ledger is an important 'audit trail' for your payroll record keeping.
•The Payroll Ledger lists each employee's name, balance at the beginning of the period, current payroll checks, quarter to date, and year to date balances.
•A Payroll Ledger, along with a Payroll Check Listing, should be printed for each payroll (Check Date).
•The IRS likes to know where you get all those numbers on the W-2's.
NOTES
•The Balance Forward plus the current checks equals the Year to Date figure.
•If you are using the Auto Allowance, Expense Reimbursement, Cafeteria, or Section 125 fields, the amounts for these items will be included at the bottom of the ledger for audit purposes.
•All employees with at least one paycheck for the year are included on the Payroll Ledger.
Professional Edition
•If there are shareholder employees reporting S Corp Insurance, Gross Pay includes the reported insurance amount.