When it's time to record your year-to-date payroll taxes, you might need to go back to the beginning of the year and summarize all your payroll transactions. If, for example, it is late June when you get ready to set up your payroll in QuickBooks, you'll need to compile all your payroll tax expenses from January through June.
These are the taxes you'll compile:
In addition, you will need to enter year-to-date amounts you have withheld from employees for benefits such as health insurance, health savings account contributions, and retirement plans.
You'll also need to record year-to-date employer contributions to employee benefit plans.