Why Don’t the Numbers on W-2s Match the Payroll Reports?
Remember, box 1 on the W2 is for “taxable wages,” not “gross wages.” If you have set up “pre-tax” deductions such as medical or 401(k), the employee’s taxable wages are “reduced” by the amount of these deductions. In other words, their full gross wages are not reported on their W-2 by the amount of the medical or 401(k) deduction.
If you have entered payroll history for the year, the Payroll Details Report shows both history entered and actual payrolls run in the software. The Payroll Register report only shows payrolls run in the software.
Friendly reminder!
If you have made any changes to your payroll since you created your W-2s, be sure to download the latest version by going to Reports > Payroll Tax Reports > W-2 Forms > and click “Update W-2s.”
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