Overview:
At the end of the year, Heard will request specific reports to make year-end adjustments to your books. This ensures that your Profit and Loss Statement more accurately reflects your true income and expenses for the tax year.
What is the Payroll Reconciliation Report?
This report shows detailed payroll information for each pay period and employee.
Why is this report required for annual taxes?
We record these entries and use the payroll journal entries to document payroll expenses. We need a detailed breakdown of net pay, employer and employee taxes as well as any payments towards benefits. This helps us understand what adjustments we need to complete on the backend for accurate bookkeeping.
Where can I locate the report?
If you are subscribed to Heard Payroll or have provided Heard with admin access to your Gusto account, we will download this report on your behalf.
Otherwise, in general, you should be able to find it under the Reports section of your payroll provider.
For therapists who do not use Heard Payroll, we have provided some helpful articles for other payroll providers:
-
Gusto: Payroll Journal Report
Please note: If you have provided Heard with Gusto Admin access, we can download this report on your behalf. - ADP: Payroll Summary Report
- Quickbooks: Payroll Summary Report
- Paychek: Payroll Report
Maintaining privacy
Important: Please review these reports before you share them with us. Depending on how the report is populated, it might include your employees' names. Please review the reports to redact or delete client information before sharing.
Upload your report to Heard
You may upload this report to Heard by going to Your Practice>Documents>Other, then click Upload Documents.