QuickBooks enables the small and medium businesses to manage their accounts and work efficiently. QuickBooks helps to calculate each employee’s gross pay and allows you to deduct the taxes to arrive at the net amount to be paid. Payroll is the list of employees of a company and how much salary or incentives is to be paid to him/her. It is recommended by QuickBooks to the user to set up scheduled tax payments for payroll taxes.
There is a list of factors that affect the total amount on the payroll check and expense of the company related to payroll, maintained by QuickBooks. This list is called the payroll item list. QuickBooks tracks the payroll expenses in the payroll expenses account and payroll liabilities in the payroll liabilities account.
Information needed for the calculations of QuickBooks payroll:
QuickBooks uses tax tables for the calculations of the payroll. You will require the following for calculating payroll:
- Information regarding the company like the name of the company, address, etc.
- Information regarding employees such as general information about them and their payroll-related information
- Tax tables
- Information regarding payroll items like company’s expenses related to payroll.
How to enable the payroll in QuickBooks?
QuickBooks enables the Payroll feature by default. Follow these steps to enable it:
- Click on the edit menu and then select Preferences.
- Click on payrolls and employees.
- Now, select the company preferences tab and select full payroll.
- This will help the user to enable the payroll And then select OK.
- Now press the F1 key or choose QuickBooks help from the help menu
- Type manual payroll in the help search field
- Then, select the topic to calculate payroll manually (without a subscription to QuickBooks payroll)
- Click on the manual payroll calculations link, to use the manual payroll calculation settings
- Select set my company file to use manual calculations link.
- Now, after the company file is set up for the manual payroll computations, QuickBooks automatically inserts a zero amount for each payroll item associated with tax
- Now close and reopen QuickBooks Desktop.
- If the user has selected set my company file to use manual calculations accidentally and wants to reinstate the payroll tax calculations in the company file, one must sign up for QuickBooks Desktop Payroll.
If a person has a QuickBooks payroll subscription and wants to cancel it he/she can still run through the above steps to activate the manual payroll options by going through the help menu. All the current payroll items would be still existing in the payroll item list. In order to deposit the payroll taxes with any deposit institution, the user must use the check liability window so as to fill out a QuickBooks check.
Also, round the clock service is provided to QuickBooks users of helping them to resolve their problems urgently. The user can contact at QuickBooks payroll customer support number 1-888-412-7852 anytime.