QuickBooks is an accounting software package and its range of products are widely used by small and medium-sized businesses. The QuickBooks applications are available both on-premises and cloud-based versions, Which records the financial transactions of the business and accepts the payments; manages payroll functions and pays the bills of the business. It helps the business owners to make their business activities hassle-free. Know how QuickBooks Payroll Setup Checklist in Intuit Desktop Payroll & Online Payroll.
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Learn How can We Setup the checklist in QuickBooks Payroll
Basic information is required while setting up the QuickBooks Payroll Desktop. Once you get the information which is required for your business from your sources like, previous service provider, old/previous record or from your staff or from federal and state agencies.
The QuickBooks accounting software offers an array of power-packed features, which many users are fond of. You want to do payroll on your desktop or in the cloud, QuickBooks has a host of options for you and your clients. Among all the choices, you have to find a good fit for your business as per your business need. Well, if you are looking forth for the QuickBooks Desktop Payroll, QuickBooks Online Payroll, and/or Intuit online payroll new customer checklist, your search ends here! We have covered it here in this article. You need to read the complete article and if required you can also connect with our team of professionals for fastest on-call and on-chat resolution. The details to connect with them, we will cover in the end of this module. So keep reading!
QuickBooks Payroll Setup Checklist: Overview
It’s simple to find the complete information from the payroll provider which we have used in the past or from the entry books, accounts or any other agencies which contains the information about the business after the completion of the setup process in the QuickBooks Desktop and even in QuickBooks online payroll account. There are multiple options available for QuickBooks users – you just need to ensure to search for the best possible solution.
What are the Options for the Desktop Versions:
- No QuickBooks payroll tax form filing.
- QuickBooks payroll tax filing & good job costing.
- QuickBooks Desktop functions of Enhanced.
- QuickBooks Desktop can record the payroll timings and the calculated amount.
How to Payroll Setup in Payroll?
Setting up payroll is a very easy process if you have the access to below information:
Company: The duration of the payment like daily, weekly, fortnightly, monthly etc., starting date and the first pay period that you will run within QuickBooks Payroll
Compensations, benefits and deductions: What kind of compensations are there like wages, salaries, commissions and leave policies, insurance benefits, retirement benefits or any other deduction or addition like deduction for child support, repayments of employee advances or loans, life insurance or additions like bonuses, travel reimbursements, loans or advances.
Tax Information: Federal tax business number (BN), CRA Payroll number, T4 transmitter number and RQ payroll information.
Employees: Employee name, address, wages/salaries, additions, deductions, & company contributions With holding from the employee’s TD1 form, Social Insurance Numbers from the employee’s T4 forms, leave plans or any accrues money.
Year-to-Date History (YTD): Year to date information is available for every employee on employee’s most recent pay stub from the previous system. Payroll liability checks copies from the beginning of this calendar year to the date since you have started implementing QuickBooks Payroll. Here you need to know that only if
If you have started using QuickBooks Payroll after Jan 1 of the calendar year & if you have already run payroll using other system at least once since Jan 1 then only you are required to enter the Year-to-date payroll information. It is important to know for all the QuickBooks Payroll users that once you run a payroll in QuickBooks Online, you cannot add or edit year-to-date information. So, kindly ensure to enter and verify all employee’s and payroll data before running payroll.
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