How to find gross income in quickbooks

Learn about the difference between net pay and gross pay, and how to gross up a paycheck from a specific net pay amount.

Gross pay is your total pay before taxes and deductions, while net pay is your “take-home pay” or what’s left after payroll taxes and other deductions are taken out.

Let’s figure out how to calculate gross pay and net pay.

In some cases, you may want to give your employee a specific net pay amount as a bonus. Taxes still need to be calculated on this amount.  This is called a gross up.  We’ll show you how to gross up a paycheck. 

Sample paycheck

Let’s figure out the gross pay and net pay with these examples:

• Regular pay: $350
• Overtime: $91.42
• Bonus: $100
• Social Security and Medicare taxes: $141.42
• Other after-tax deductions: $100

Gross pay

To get the employee’s gross wage, add the regular or salary pay and other pay types like overtime, bonus, holiday, and time off pay.

Based on the example paycheck above, the employee’s gross pay would be:

Regular pay($350) + Overtime($91.42) + Bonus($100) = $541.42

Net pay

Now that you know how to get the gross pay, deduct the total payroll deduction from the gross pay to get the net pay.

Based on the example paycheck above, the employee’s net pay would be:

Gross pay($541.42) - Total payroll deductions ($100 + $141.42) = $300

Gross up a paycheck

If you want to pay your employees with a desired net pay amount but with taxes and deductions taken out, you need to figure out the gross pay amount to run payroll. 

For example, you want to reward your employee with a  $300 net pay bonus,  and you want to withhold Social Security, Medicare, $100 for federal income tax (FIT), and 100 for other deductions.

If you're using QuickBooks Desktop Payroll, check out Gross up a paycheck in QuickBooks Desktop Payroll to learn more.

If you're using QuickBooks Online Payroll, run the payroll as a bonus check, and we’ll figure out the total pay or gross pay for you. Otherwise, follow the steps below to get the gross pay:

Currently, the option to convert graph reports to a standard report is not possible in QuickBooks Desktop (QBDT). However, you can consider opening the Sales by Item Details report and customize it to your desired date. Let me show you how.

Here's how:

1. Go to the Reports menu.
2. Select Sales and choose Sales by Item Details.
3. Adjust the date of the report at the top corner. 

For more insights, you can refer to this article on how to generate reports to shows the information you need: Customize reports in QuickBooks Desktop. Then, memorize it to save its current settings. This saves you time in generating a report again to show the details you need.

I'll take note of this feature request to our product engineers so they'll consider adding this in the future updates. In the meantime, I encourage checking our Product Updates page to stay updated on what's new in QuickBooks.

Do get back to us whenever you have other concerns or questions. I'm always here ready to help. Take care!

I appreciate you coming back to the thread and adding extra details about your concern. With this, I'll ensure you'll be able to get a report that appears what you need by following the steps below.

There are several Excel reports available in QuickBooks to show all payroll data. That said, I recommend running the Summarize Payroll Data in Excel report. This contains Pay Type for earnings items, such as Regular and Overtime, Sick, and Vacation. Also, the pay period with the breakdown of hours, overtime, etc.

1. Under Reports from the QuickBooks menu, choose Employees & Payroll. Then, select Summarize Payroll Data in Excel.
2. If prompted by the Excel security warning, follow the directions to enable macros in Excel.
3. From the QuickBooks Payroll Workbook - Welcome screen, choose OK.
4. Enter a date range and select Get QuickBooks Data.
5. Choose the State Wage Listing tab at the bottom. Then, you can now see the data you need.

Furthermore, you can open this article to see additional information about the report: Excel based payroll reports.

Lastly, you may refer to this article to see steps on how you can customize any report in QBDT to personalize the font and style of the page: Customize reports in QuickBooks Desktop.

Please get back to the thread if you need anything else about Reports. I'll be more than happy to help you, Lisalu. Have a great day!

Outdoor purchases leather material to manufacture hiking boots, and each boot requires two square yards of leather. Both the cost of leather and the amount of material required can be directly traced to each boot. Outdoor knows how much material is required to produce a production run of 1,000 boots.

Hiking boot production also requires labour costs. Outdoor pays workers to operate cutting and sewing machines and to stitch some portions of each boot by hand. 

Based on industry experience, management knows how many hours of labour costs are required to produce a boot. The hours, multiplied by the hourly pay rate, equal the direct labour costs per boot. Outdoor knows the direct labour costs required to produce 1,000 boots.

The 2020 income statement reports that Outdoor incurred $170,000 in direct material costs and $250,000 in direct labour costs.

Indirect operating expenses cannot be directly traced to a product or service. Instead, indirect costs are allocated to production. Most managers use the term “overhead,” rather than “indirect costs.”

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