IOP or Intuit Online payroll is a payroll service offered by Intuit, which can be used as stand-alone software, or in integration with QuickBooks Online. With the help of this software, you can make direct deposits, also you can fill in federal and state tax forms and makes automatic tax calculations as well.
The main difference between IOP software and QuickBooks Online is that IOP takes care of your payroll-related needs, while QuickBooks Online deals with the accounting side of the business. In this article, we will look into how to set up the export of IOP data into QuickBooks.
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Steps for Setting up the Export of IOP Data to QuickBooks Online
Have a look at the below-mentioned list of simple steps, which you can follow to export the IOP data to QuickBooks Online
Step 1. In the first step, open intuit online payroll and click on the export setup page. Now click and set up export preferences by clicking on “Want to export to QuickBooks?”. After that click to select QuickBooks Online and then continue.
Step 2. In this step, map your charts of accounts, like for expense account, map by item type, employee type, or name. For liability accounts, map the sub-accounts in the chart of account. Now, map your bank account, wage expense account, cost of goods sold account, and other accounts. And then review all the accounts that you have mapped on the review page.
Step 3. In this step, click on Export to QuickBooks after each payroll run, you can find the “Export to QuickBooks” option on the home page.
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