# 1 | Payroll Reconciliation (Results + Payments)
- Overview: This report confirms payroll totals by Period and Pay Group. Results are displayed by payment counts as well as payment amounts.
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Why we ❤️ it: This report confirms all payroll results and subsequent payments have been settled
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When to run it: After each payroll settlement run is completed.
- What to look for: Non-zero amounts in the Not Settled columns (both Counts and Amounts).
# 2 | Tax Filing Quarterly Data by Company
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Overview: This report reconciles taxable wages and tax withholdings against tax deposits and filings.
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Why we ❤️ it: reconciles taxable wages and tax withholdings against tax deposits and filings.
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When to run it: After payroll is completed (can also be run during payroll processing by selecting In Progress results options); it should also be run before quarterly tax files are sent to vendors.
- What to look for: Amounts that don’t match records on file with third-party tax vendors or amounts remitted to tax jurisdictions.
# 3 | Tax Filing Quarterly Data for Workers
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Overview: This report shows quarterly tax data for workers by Company and Quarter. It can be run for individual workers, as well as for specific Payroll Tax Authorities and Tax Types.
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Why we ❤️ it: Use this report to reconcile QTD and YTD taxable wages and tax withholdings for employees.
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When to run it: After payroll is completed (can also be run during payroll processing by selecting In Progress results options); it should also be run before quarterly tax files are sent to vendors.
- What to look for: Amounts that don’t match records on file with third-party tax vendors; also look for workers in Pennsylvania with a PSD code of 990000, which indicates that the code is unknown (most tax filing vendors will reject quarterly filing data if this code is present).
# 4 | Audit - Negative Wages or Tax (by Worker)
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Overview: This report will show negative amounts calculated for taxable wages and taxes withheld, displayed by tax type.
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Why we ❤️ it: This report can be run by Year, Quarter, and Company. Individual workers can be selected at run time, as well. Running this report throughout the tax year allows for errors to be identified and corrections applied before quarter and/ or year-end.
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When to run it: Payroll users can run this report regularly, including after each payroll is completed.
- What to look for: Negative amounts for employees for a given quarter and/ or year (ideally, this report should return no data, which indicates that no errors are present).
# 5 | View W-2 Errors/ View US Territory Year-End Form Errors
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Overview: This report can be run by Tax Year and Company, as well as for individual workers. The report comes with a delivered pick list of available error types, such as Invalid SSN, Social Security Wage limit has been exceeded and retirement deferrals over the annual limit.
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Why we ❤️ it: This report flags potential W2 issues in real time, allowing payroll users to identify and correct issues before W2 processing begins for the tax year.
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When to run it: This report can be run regularly, including after each payroll is completed.
- What to look for: Employees with errors listed (leave the Error Type prompt blank to return all errors present).
# 6 | W-2 Preview/ US Territory Year-End Form Preview
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Overview: This report displays up-to-date W2 information by worker in real time. All completed payroll results will be picked up when this report is run based on parameters selected at run time.
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Why we ❤️ it: Payroll users can run this report by Tax Year and Company, as well as for individual workers to balance YTD information before W2 processing begins.
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When to run it: This report can be run on a regular basis, including after each payroll is completed.
- What to look for: Employees with amounts that do not reconcile to data on file with third-party tax vendors.
By running these reports regularly, Workday payroll users can: Identify and correct errors in real time, reduce the need to file amended tax filings for prior (closed) quarters and reduce or eliminate the need to produce W2-Cs.
Looking for more hands-on support or maybe a custom-built report to solve for a blind spot in your data not featured above? Use the form below to set up a quick no-commitment chat with one of our Workday experts to learn how Invisors can support your organization, all year round.
📆Wishing you a happy (year-round) year-end!
