What are the payroll debits I see coming out of my bank account?

First, you can trust any payroll app that we use or recommend 100%. Their tracking + our reconciling = 1000% accurate payroll/transactions/and books.

 

Second, if you are an S-Corp owner and have hired us for payroll service, we're running payroll for you monthly on the 15th and that there will always be a tax debit for your payroll on or around the 15th.

 

Third, if you pay an employee, any payroll app that we use or recommend will immediately debit any associated employEE and employER taxes from your bank Account. It will also debit your employees net pay in order to send it to the employee if you are using Direct Deposit. 

 

Gusto Payroll: whenever you want to see why Gusto debited your account for a payroll transaction, log into Gusto and click Reports on the left sidebar > then scroll down and click on Bank Transactions > you will see a list of every single bank debit, click View Details > scroll down and you can view the breakdown of each tax from the bank debit and whose paycheck it was for.

 

See also How do payroll taxes work?

See also What is Tax Planning and why do I need it?
See also What is Self Employment Tax?
See also What is an S-Corporation?
See also Can S-Corp Owners' deduct medical premiums paid by their business?