Computer Accounting with QuickBooks 2015 Chapter 11 Donna Kay

Chapter 11 Overview Enable Payroll Set Up Payroll Create Employee List Print Paychecks Pay Payroll Liabilities Print Payroll Forms and Reports COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

Enable Payroll Select Edit > Preferences Select Payroll & Employees Select Company Preferences Select Full Payroll Display Employee List by: Last Name Select OK COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

Payroll Options When you process QuickBooks payroll, you can: Calculate payroll manually (Chapter 11) Use a QuickBooks payroll service (Chapter 6) COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

QuickBooks Payroll Services QuickBooks Payroll Services automatically calculates tax withholdings and requires an Internet connection QuickBooks Payroll Services include: Basic Payroll Enhanced Payroll Assisted Payroll COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

Calculate Payroll Manually Select Help > QuickBooks Help Search process payroll manually Select Search icon Select Process Payroll Manually (without a subscription to QuickBooks Payroll) Select manual payroll calculations link COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

Calculate Payroll Manually Select Set my company file to use manual calculations Select OK COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

QuickBooks Manual Payroll After you enable QuickBooks to process payroll manually… Go to Payroll Setup Enter Employee List Enter Time Pay Employees Pay Liabilities Process Payroll Forms COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

Payroll Setup Use QuickBooks Payroll Setup to enter information such as: Employee compensation Employee benefits Other additions and deductions Employee tax information COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

Print Paychecks Select Pay Employees Select Bank Account Enter Pay Period Ends Enter Check Date Select Employee Select Continue COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

Print Paychecks Select Employee Select Open Paycheck Detail COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

Preview Paychecks 1. - 6. Enter Employee withholding information Select Save & Close COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

Print Paychecks Select Print paychecks from QuickBooks Select Create Paychecks Select Print Paychecks COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

Payroll Liabilities Payroll liabilities consist of: Federal income tax withheld State income tax withheld FICA FUTA SUTA COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

Payroll Forms Common payroll tax forms: Form 941 Form 940 COMPUTER ACCOUNTING WITH QUICKBOOKS 2015

To Learn More … See Chapter 11 Visit the Online Learning Center www.mhhe.com/kay2015 Visit www.My-QuickBooks.com COMPUTER ACCOUNTING WITH QUICKBOOKS 2015