Quickbooks payroll Technical Support
QuickBooks Payroll calculates each employee’s gross pay, and then calculates taxes and deductions to arrive at the net pay. With QuickBooks, you can write the paycheck, record the transaction in your QuickBooks checking account, keep track of your tax liabilities, and pay them.
To calculate payroll, QuickBooks uses tax tables. The exercise file includes the tax table data needed to complete this lesson. To get the tax tables to use with your own QuickBooks company data file, you need to subscribe to one of the Intuit Payroll Services—either QuickBooks Basic Payroll, QuickBooks Standard Payroll, QuickBooks Enhanced Payroll, or QuickBooks Assisted Payroll. To learn about these options or subscribe to one of them, on the Home page go to the Learn About Services section and click “Pay your employees.”
Calculating payroll with QuickBooks
Information about your company
Besides the company name and address,this includes information about your federal tax ID numbers. You enter this information in the EasyStep Interview when you set up your QuickBooks company data file.
Information about your employees
The QuickBooks Employee list stores general information about each of your employees, and specific information related to payroll (such as the employee’s salary or hourly rate, filing status, number of exemptions, and miscellaneous additions, deductions, and company contributions). You can store payroll information that most employees have in common in employee defaults. Whenever you have a new employee to add, simply enter information that’s specific to that employee (name, address, and so on).
Information about your payroll items
QuickBooks maintains a list of items that affect the amount on a payroll check, including company expenses related to payroll. When you specify that you want to use payroll, QuickBooks creates a number of payroll items for you. You add others as you need them.
Tax tables for federal, state, and local withholdings
QuickBooks uses tax tables to calculate payroll. You get the current tax tables and keep them current when you subscribe to one of the Intuit Payroll Services mentioned in “Overview of payroll tracking” on page 319. If you choose not to subscribe to one of these payroll services, you need to calculate and enter your payroll tax deductions manually for each paycheck.Once you’ve set up your company, employee data, and payroll items, to run payroll you enter the number of hours worked during the pay period for each employee. QuickBooks calculates the gross wages for the employee, and then refers to its tax tables (if you’ve subscribed to one of the Intuit Payroll Services—Standard Payroll, Enhanced Payroll, or Assisted Payroll) and the company and employee information you’ve entered to calculate all withholdings and deductions and to arrive at the net pay figure. QuickBooks also calculates your company payroll expenses (for example, your contributions to social security and Medicare)