Chapter 2. Setting Up and Using Payroll Features

What You'll Do

Set Payroll and Employee Preferences

Set Up Employees

Set Up Employee Payroll Information

Set Up Employee Payroll Taxes

Set Up Sick and Vacation Benefits

Enter Year-to-Date Payroll Amounts

Set Up Payroll Deductions

Select Employees for Payroll Preparation

Enter Paycheck Information

Use Timer Information with QuickBooks Payroll

Print Paychecks

Use Direct Deposit

Create Employer Payroll Reports

Pay Payroll Taxes with Form 941

Pay Federal Unemployment Compensation Taxes with Form 940

Issue W-2 Forms

Issue W-3 Forms

Set Up Independent Contractors for 1099 Forms

Set 1099 Preferences

Issue 1099 Forms

Outsource Payroll

As an employer, it is your job to keep track of and pay salaries and wages to your employees and subcontractors. Although paying payroll and contractor fees can be time-consuming and tedious when done on paper and with a calculator, you'll find that with QuickBooks the process is quick and the record keeping is excellent.

You'll be able to produce all the federal payroll tax forms you need, right in QuickBooks, including

  • Form 941 Employer's Quarterly Federal Tax Return

  • Form 940 Employer's Annual Federal Unemployment (FUTA) Tax Return

  • Form W-2 Wage and Tax Statement

  • Form W-3 Transmittal of Wage and Tax Statements

  • Form 1099 Information Returns

  • Form 1096 Annual Summary and Transmittal of U.S. Information Returns

In addition, QuickBooks provides the ability to set up payroll deductions for 401(k) plans, health insurance, health savings accounts, employee reimbursements, flexible spending plans, and dozens of other deductions.

Finally, you can produce payroll reports that summarize all your employee payroll activity and company payroll expenses and liabilities.

Show Me. QuickBooks 2006
Show Me QuickBooks 2006
ISBN: 0789735229
EAN: 2147483647
Year: 2005
Pages: 328
Authors: Gail Perry © 2008-2017.
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