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W-2 Balancing

Estimated reading time: 1 min

Balancing your W-2s to the 941 reports for the current year can be done at any time in Payroll NOW. Printing of the W3 at any moment in time will give you to totals for that tax year to that point in time. You can also print your 941 at any time to get the totals for the current quarter at that point. Adding the 941 for the current quarter at that point to previously filed 941s should match your W3 totals.

Printing Forms

  • 941 – Under the full payroll menu, go to Reports/US Tax Reports/941 Report

Make sure to select the correct year and quarter and then you can either Preview & Close or you can Send To…. and choose PDF if you want to save it.

  • W3 – Under the full payroll menu, go to Reports/US Tax Reports/W3 Report

Make sure to select the correct year and then you can either Preview & Close or you can Send To…. and choose PDF if you want to save it.

Balancing Your Returns

At this point, you should create a simple spreadsheet to determine if the totals balance. Here is an example published by the IRS at https://www.irs.gov/pub/irs-tege/year-end_reconciliation_worksheet.pdf:

 

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