Payroll pros: how do you reconcile Gross wages to FICA wages?
We are struggling to reconcile Gross Wages to Social Security and Medicare wages in our payroll system and are hoping other customers can share best practices or reconciliation methods that have worked for them.
Our biggest challenge is that totals often reconcile differently depending on the reporting source or timing, making quarter-end and W-2 balancing extremely time consuming and heavily manual.
We are looking for guidance on:
- How other organizations structure their reconciliation process
- Reports or queries you use regularly
- Whether you reconcile by payroll, monthly, quarterly, or all three
- How you document and track expected differences
- Any controls or audit methods that have helped reduce manual research