Report showing Payroll Deductions coming out of my external bank account

[dromesburg]

Folks I have all of my funds and deductions to my external business checking account. As balances show, you see all outgoing funds/transactions and fee deductions going out to my external account. Why am I not able to locate this type of running report/ details, with payroll? I've had payroll for a few months only, and it seems other than running the multiple step Company Totals Report by Square Payroll, which still doesn't show what days the withdrawals are done, unless I run it daily. Like with Balances/Banking, you can clearly and easily see each transaction per day, without taking multiple routes to easily and quickly get your withdrawal information that Square Payroll is taking out of your account. Pls let me know if I am missing something here, or is this how inefficient Payroll reporting is? thanks in advance. Not to sound harsh, I would have thought something like this would be readily available because how else can you do it?

[TheRealChipA]

Hey there @dromesburg. After reading your post a few times, I think I understand what you are asking.  So, I'll give it a go with some information and if I'm off base in my interpretation, just let me know and I'll try again.

The payroll deduction schedule is a constant, and this is true of all payroll processors I have used.  Here's what it is.

The day before direct deposits are issued, Square sends ACH deductions to our accounts for the following amounts.  Note that the specific taxes included in #2 and #3 vary by state.

1. The total amount of the direct deposits
2. The total amount of payroll taxes that are due to be remitted to someone on the pay date
3. The total amount of payroll taxes that are sequestered for remittance either monthly or quarterly

On the day direct deposits are available to our employees, Square sends an ACH deduction to our accounts for federal obligations -- federal tax, social security and medicare.

The only time the above schedule is altered is when the actual pay date falls on a banking holiday.  In that case, the ACH deductions are initiated a business day earlier, and Square always makes that clear when we submit our pay runs for such weeks.

[dromesburg]

Thank you so much, and for your time! Your explanation certainly gives me much better of an explanation… YET to go a step further, I am looking for report(s) to run,( not export to .XLS file), where I will see the exact date(s) and each single line item listed for the total employee and total employer deductions to be paid to each entity. 
Is The UPCOMING PAYROLL DEBIT email that is sent out, since I can’t find a report to run, is that the full total for that Pay Period both Employee and Employer combined? Also what about Unemployment Compensation listed as a deduction for that pay period? I know states vary, however it really seems like running any helpful payroll/tax reports was not even a thought with Square Payroll. I know I can take multiple steps to export to XLS file. Thanks in advance!  Sorry, just seems like I have to go in and out of places to find amounts, and In My Opinion, would be easier to locate and specifically run as a report, had it been giving a thought? Not to seems harsh, I sometimes find Square the least user friendly when handling a report or task you would think someone would have thought of anyhow, sort of a basic need/requirement. Hope that makes sense…. Thanks again! 

[dromesburg]

Hi Chip, thanks for your time, while dissecting my post. Job well done on your part, and I appreciate that. However the biggest aspect that I am missing and I decided, (which I should have done previously), was to be in Square. So here goes the reporting aspect, which is my greatest challenge. 
Seems like Payroll reporting was not much of a thought, as the interface and drilling down to find a report for all tax data, collected and paid out, wasn’t given much thought or time. 
For me, as a Square Payroll users, to run A (and the only report) that shows all of the details of EE and ER taxes collected is UNDER PAYROLL HISTORY, Download Reports, and your can ONLY export the tax data under Company Totals as a .xlxs file, period. You can run a dynamic report and simply print out a PDF, you have to manually run the Company Report, export that data as an .xlsx file, then import that spreadsheet data in to your spreadsheet, massage whatever format, then you can print it as a PDF file, simply to have a report for the EE and ER taxes paid for each period, correct? Seems like my long post is similar to how many steps it takes to get the amounts paid out, so I can incorporate/enter that data in to Quickbooks. I know they have a data connector for this, however I use QB a few versions back, due to the exponential cost of these components. 
phew! Sorry but THANKS again!! Dave

[TheRealChipA · Accepted solution]

@dromesburg So, I don't use Quickbooks but rather a different accounting system.  As such, like you I post my weekly payroll journals in my accounting app manually.  I think you might be overthinking this as all the information you need for each weekly payroll is in the payroll report that comes up after you run a Square Payroll.  (see my attached screen shots).

I first create a bill that contains the following amounts from the Accounting Summary column:

• Gross Pay
• Paycheck tips
• Employer taxes

Then I post each separate payment in the Bank Withdrawal Summary column so that I can match each withdrawal on my bank statement.  The total of the bill should equal the total of the payments when you are done.

There are more complications that you will need to possibly explore with your accountant.  For example, if you are accruing your daily card tips into a liability account, then you'll need to make sure that the Paycheck Tips in the bill above reduces that account.  But I would highly recommend consulting with your accountant about how is best for you to set up all of this.  

For my purposes here, I hope that explains how easy it is to find the numbers you need to post to QB.  They are all right there in that report after you run your weekly payroll.  And, should you forget to print that report out, you can just to to your "Run Payroll" page of your dashboard, and at the bottom you'll find all of your payroll runs.  Click on one to quickly bring its report up.