Wednesday, January 23, 2008

QuickBooks Enterprise-Payroll Setup

A client who recently subscribed to QuickBooks Enhanced Payroll wants to know what is needed to begin the setup process?

To do its payroll calculations, QuickBooks needs four kinds of information:

1) Information about your company: federal and state tax ID numbers, payroll tax filing frequencies, payroll tax authorities to whom payroll taxes are remitted, etc.

2) Information about your employees: such as salary/hourly rate, filing status, number of exemptions, misc. additions, deductions and company contributions.

3) Information about your payroll items: QuickBooks maintains a list of items that affect the amount on a payroll check such as: compensation, taxes, benefits, etc.

4) Tax tables for federal, state and local withholdings.

QuickBooks Payroll Setup guides users through the process. Select Employees>Payroll Setup to display the payroll setup window This will guide users through a step by step setup process.

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