In this article you will learn how to setup a payroll in QuickBooks. To know more call QuickBooks support.
- Company Information
You’ve already set up your company file in QuickBooks. Now, your Payroll Setup Interview will require the following:
- Company Bank Account
Required for Assisted Payroll to debit for taxes, payroll service fees and any employee direct deposits
- Company Federal Employer IdentificationNumber (FEIN)
Legal Company Name and Address (this should match how you are registered with the IRS)
- Direct Deposit Information
Determines if Direct Deposit limit increases are required.
- Highest Total Net Direct Deposit Payroll for theCompany in a 7-day period, including bonusesand commissions
- Highest Net Direct Deposit Payroll for one employee is a 14-day period, includingbonuses and commissions
- Types of Employee Compensation
Such as hourly wages, salaried wages, bonuses,commissions, and tips.
- Types of Employee Benefits
Such as health insurance, dental insurance, 401K retirement plan, vacation/sick leave, or Flexible Spending Account (FSA)
- Other Additions and Deductions
Such as cash advances, mileagereimbursements, union dues, and wagegarnishments
- Other Company Work Locations
Primary and any secondary work locations for employees (multi city/state work)
- Remote or Work From Home
Employee residences if they work from home or remotely.
- Employee Information
For each employee who worked for you this calendar year (including active, inactive and terminated employees), you’ll need:
- Completed W-4 Form – federal and state
- Pay Rate
(hourly, salary, commission, etc.)
- Paycheck Deductions
401(k), insurance, garnishments
- Sick/Vacation Policies
including employee balances
- Direct Deposit Information
Required only if you are paying any employees by Direct Deposit. Use a voided check from the employee’s bank account (not a deposit slip).
- Important Dates
To know more you can call QuickBooks Support.
- Tax Information
All of the following payroll tax information is available from your state or local tax agency.
- State Unemployment Insurance (SUI) Contribution Rate
Contact your state’s unemployment insurance office to obtain your rate.
- State Agency ID Number(s)
If you do not have an ID number for unemployment or state tax withholding, contact your state’s agency directly.
- State Assessment, Surcharge, Administrative or Training Tax Rates (if applicable)
- Signed Quarterly State and Federal Tax Filings
For any closed quarter if you had payroll under your FEIN in the current calendar year.
- Schedule for Tax Deposits and Filing (monthly or quarterly)
- Tax Payment Information
From prior service if you had payroll in the current calendar year.
- Amounts of each tax paid for closed quarter
- Amounts of each tax paid and amounts of each tax refunded for current quarterupon cancelation
- Payroll History
If you had payroll under your FEIN this calendar year, you will need the following payroll reports from your prior payroll service:
- For each CLOSED Quarter in current year:
Quarter 1: January 1 – March 31
Quarter 2: April 1 – June 30
Quarter 3: July 1 – September 30
- Quarter-to-Date Payroll Earnings Reports for each employee showing a breakdown of gross pay, taxes, other payroll deductions.
- Quarter-to-Date Company Totals Report showing total gross pay, totals for each payroll deduction a nd taxable wages for each tax (if the 941 and state tax returns are not available)
- Note: Year-to-Date Payroll Reports are not accepted.
If you do not have Quarter-to-Date Reports, include BY CHECK DATE Reports.
- 944 Filers: BY CHECK DATE Reports or Month-to-Date Reports are accepted.
- Company total for company paid taxes (FUTA/SUI)
- For CURRENT Quarter:
By CHECK DATE Payroll Earnings Reports for each employee showing a breakdown of gross pay, taxes, other payroll deductions. Ideally this report should also show company totals for each check date.
Now you know how to setup payroll in QuickBooks.
To know more on how to set up payroll in QuickBooks call QuickBooks support on their toll free number. Also, you can write us at email@example.com. Feel free to reach us anytime; our team of executives is 24/7 available at your service. For more information visit, www.quickbooksupport.net.
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