PAYROLL RECONCILIATION
- Prepare all quarterly payroll reports, including 941’s, WR-1’s, SUTA, etc. and pay any balance due
- If FUTA exceeds the threshhold for annual filing, file and pay FUTA tax
- Reconcile payroll liability accounts against quarterly reports
- Deposit Federal and State payroll taxes and withhholdings (if a quarterly depositor)
- Reconcile and pay sales and/or meals tax (quarterly filers only)
- Create/review quarterly profit and loss and balance sheet statements
- Create/review quarterly inventory and sales reports
- (Nonprofits & some for-profits) Do quarterly cost allocations
- If you pay estimated taxes, make your quarterly payment
