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Publically funded projects require employers to pay a prevailing wage rate for workers on the job. They need to report these wages on Certified Payroll Reports. QuickBooks does not provide rovide you prevailing wages and certified payroll reports if you are using:
- Intuit Online Payroll
- QuickBooks Online Payroll(all versions and editions)
- QuickBooks Online Payroll Core
- QuickBooks Online Payroll Full Service
- QuickBooks Online Payroll Premium
- QuickBooks Online Payroll Elite
What is a Certified Payroll?
All the projects that are publicly funded required contractors for paying a prevailing wage i.e. Davis-Bacon wage rate for workers on the job. For a specific payroll period, you must create a certified payroll report that represents wages paid to each worker.
For the federal form WH-347, QuickBooks Desktop Payroll Certified Reporting will be treated as a substitute. It helps in listing the required information about both company and the project, the name of the employee, Ending four digits of the Security Number, and the job classification. It generates complete reports that represent the working hours of employees(each employee detail), rate of pay, gross wages, deductions, and net pay.
Note: Always keep in mind that the reports required to be printed and signed by an authorized official of the company, just to maintain and certify accuracy.
What are certified Reports?
In certified Payroll Reports, it is essential to include a listing of the worker’s work on the project, work classifications, working hours, wage rates, benefits, paid wages total, overtime compensation, and all required information specifying the payroll deductions.
The certification must represent that each worker has been paid, and it is now lower than the benefit rate and prevailing wage for the work performed.
Expected Outcome of Certified Payroll
You are eligible for creating a certified Payroll Report representing Prevailing wages or Davis-Bacon wage.
Assumptions of Certified Payroll
Ensure that you are working on an active and updated version of QuickBooks version. If you still work on the previous or outdated release of QuickBooks Desktop then try to update it as soon as possible, For more help, you can contact us.
Details of Certified Payroll Report
Here we will provide you all the details which you require while creating a Certified Payroll Report. Read all the details very carefully otherwise, it will lead you to wrong results.
You have to meet the criteria if you are ready to create a Certified Payroll Report.
You must need to follow the checklist below to make sure that the certified payroll reports pull correctly.
- Check whether you have a “Full version of Microsoft Excel” or not. If you are using the trial version then ensure that the validity of the Microsoft Excel trial period is not expired yet.
- You need to run QuickBooks as an administrator
- To run QuickBooks as an administrator, Right-click on the QuickBooks icon where you see the option “Run as an administrator” just make a click on it.
- You are required to log in as the “QuickBooks Admin” and in “Single-User mode”
- First of all, you have to visit the QuickBooks “File menu” and then choose switch to “Single User Mode” to turn on Single user mode
- Use QuickBooks Desktop Time tracking facility
- By using the payroll items which you use to pay employees, manually enter time by the job of each employee
- It is the best way if you pay your employees after checking their working hours(first enter the time and then pay to your employees). Ensure that the time records and hours paid will be the same
Note: This report can still be used without using the time feature, but you have to manually input your daily hours on the report.
- For setup, the time tracking feature, simply go for Setup time tracking. Classes that you are assigned on timesheets must be matched with the classes on paychecks.
- For using the timesheets, simply go for Create and print sheets
- Weekly Payroll: In this, you just create a weekly payroll and you also need to include your payroll certified job on your paychecks(At the time of using time tracking it happens automatically).
- In the Payroll Information Window, All your employees are required to have “weekly” inside their pay frequency.
- For using the paycheck information in paycheck creation you have to check the create paychecks on timesheet hours
- Your Paychecks must consider “earnings items tied to job classifications”
- For learning the concept of “how to tie items to jobs”, you have to check the Setup job costing and item tracking
- Your Paychecks must consider “earnings items named after your jobs”
- Let’s take an example to give you the right understanding of the topic, Suppose you use hourly items with names such as Carpentry, Electrical, or General Labor for your work classification codes.
- The item names used must be present in the report.
- Your employee puts their extra efforts in the form of overtime and double time, then you have to pay your employee as per the amount of work they have done(pays dependent on working hours including Actual overtime Earnings item)
- Visit to check, if you are using an additional or a special overtime item by editing to modify the item from our “payroll item” list and seeking for “Define Overtime” slide.
- For creating an overtime payroll item just check out setup an hourly wage payroll item
How to Create a Report in the concept of Prevailing Wages and Certified Payroll Reports
Here you will learn step by step procedure to create a report. We are always recommended to apply the steps in the given order. Also, try to read out the complete details before applying it on your PC. These steps are:
- In the first step, you have to choose the “Reports” menu.
- After that, Pick “Employees & Payroll”.
- Then, choose “More Payroll Reports in Excel”.
- Choose the “Certified Payroll Report”.
- For accessing all of the excel-based reports, you are required to “Enable Macros”.
- Then choose “Continue”, after that enter the “Pay Date” must be available for the report.
- Now you have to pick “Get QuickBooks Data”.
- Now you have to Choose “Next” and then manually enter the “Employer Information”.
- On the “Project Information” screen, you have to enter the required details and information
- Project Name: In this field, you have to mention the Customer: Job that has already selected at the time of paycheck.
- Last Date of Work Week: you see this field at the end of the form. In this, you have to put the last day of the pay period in the paycheck.
- Now enter the required information on the Other Questions & Options screen (This form represents all the information of the signer of the form).
- Choose “Create Report”
- Once the all above steps are successfully processed, Simply print the required pages to be able to file the form with their state.
What are the Prevailing Wages?
Do you want to know the concept of Prevailing Wages? Here, you will learn about it, Prevailing wages also known as Davis-Bacon wage. The concept of Prevailing wages is correlated with the Davis-Bacon Act. It is because the Davis Bacon act of 1931 comes under the United States federal law establishing by analyzing the requirements for paying prevailing wages on public works projects.
It includes all federal government construction contracts for federally assisted construction over $2000. You must include the provisions for the payment of workers on-site lower than the local wages and advantages paid on the same projects. These wage provisions are known as Prevailing wages.
Hopefully, you learn more about the Prevailing Wages and Certified Payroll Reports by reading our article. As we mentioned above, if you are willing to create certified payroll reports then you must have or use QuickBooks Desktop Premier or Premier Accountants Edition and Enterprise Solutions or Desktop Enterprise Solutions for Accountants company files including an Assisted or Enhanced Payroll subscription.