The Payroll Benefits and Deductions Report in Wave contains a breakdown of benefits and deductions broken down by employee and pay period.
Benefits and Deductions you add to your employees' pay can be viewed on individual pay statements as well as on your year-end tax forms. However, the Payroll Benefits and Deductions Report consolidates this information making it easy for you to keep track of it anytime.
To view your Benefits and Deductions report, click on Reports on the left navigation menu in your Wave account and select the Payroll Benefits and Deductions Report. You will then see an option to select a date range for the report. You can generate the report by quarter, by year, or choose a custom date range. Once you select the period, click on Generate and download PDF to download your report.
The PDF report generated will consist of:
- Employee Summary
- Employee details by period
The Employee Summary section shows you the benefits and deductions broken down by employee. You will be able to see the type of benefit or deduction, the number of pay periods where these were applied for each employee, and the total amount for each type of benefit or deduction.
The Employee details section further breaks this information down and displays the specific pay periods where each benefit or deduction was applied as well as the payday.
If the report you generate does not include any information, check to ensure you selected a date range where you have approved payrolls that include benefits or deductions.