Thank you for your response, JANECCC1. I appreciate your attention to these important aspects. Accurate financial reporting is essential for compliance with accounting standards and tax regulations. Proper recording and reporting of payroll taxes and other deductions are crucial for ensuring accuracy during audits and tax filings. Let me share some insights about this matter.

In QuickBooks Online (QBO), the payroll data in the Balance Sheet report is categorized into Payroll Liabilities, which are short-term obligations related to payroll, and Salaries and Wages Payable, which are amounts owed to employees for work that has not yet been paid. Meanwhile, the Profit and Loss (P&L) report shows Payroll Tax Expenses (which include all government payroll taxes), Employee Benefits (like health insurance and retirement contributions), and Salaries and Wages (the total gross earnings paid to employees).

In addition to appearing in the P&L and Balance Sheet, payroll data is also detailed in specialized Payroll reports. If you find missing data in these financial reports, this is often due to account mapping. Proper and accurate account mapping is essential to ensure that every payroll expense and liability is classified correctly in financial statements.

Here’s how you can check or update your payroll accounting settings:

1. Navigate to the Gear icon and proceed to Payroll Settings.

2. Under the Accounting section, click on the pencil icon.

3. Select the specific section you want to update by clicking the pencil icon again.
4. Enter the account name or scroll through the list to choose the appropriate account for the transactions.
5. Hit Save then Done to finalize changes.

For more information, you can check this article: Change your accounting preferences in QuickBooks Online Payroll.

To ensure an accessibility of your business records for future reference, you might want to print, export, or email copies of your reports. 

Account mappings are essential for maintaining accurate and transparent financial records that accurately showcase your company's financial status. If you require further assistance, please don't hesitate to click the Reply button below to keep me updated. I’m always here to support you.