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Schedule L — Reconciliation of Total Payroll to Total Labor Distribution

Schedule L reconciles labor costs from the general ledger to the quarterly IRS 941 tax returns for the contractor’s fiscal year.

Total Labor is broken out into direct and indirect costs.

  • Direct Costs — These are derived by determining which account/org combinations from POOL_COST_ACCT are not associated with a pool. The missing account/org combinations and their respective general ledger amounts for the fiscal year are then rolled up into one amount called Direct Costs.

  • Indirect Costs — These are derived by determining which account/org combinations from POOL_COST_ACCT are associated with a pool. These account/org combinations and their respective general amounts are then broken down further by the pool type numbers from POOL_TYPE and then listed by their respective account names. The total of these costs are the Indirect Costs.

These total labor costs are then compared to the Quarterly 941 amounts and any current and prior year accruals and these balances should coincide.

Note: The Quarterly 941 amounts and the Current and Prior Year Accruals used to arrive at the Total Payroll will need to be calculated manually offline in a separate spreadsheet and will not be represented in this report.

Some of the amounts found on this schedule are derived from the previous schedules. Reconciliation adjustments may include bonus or vacation accruals. The pools and bases in Schedule L are linked to their respective schedules as shown in this table.

Function

From Schedule

Overhead

Schedule C

G&A

Schedule B

Intermediate Pools

Schedule D

Direct Costs by Contract/Subcontract

Schedule H