Setup & Use QuickBooks Online Payroll

In the world of business and commerce, this bookkeeping is a very useful term for keeping all the financial records intact. Now, that offline facility has turned into online one with more facilities and less burden – it is “QuickBooks”. It is kind of software where an array of accounting proceduresare kept intact under one shelter like a user-friendly system.
The primary function of this software is to mitigate the usages of the spreadsheet, tracking sheets which are necessary to document. Even the accounting figures can be accommodated for tax oriented issues with the help of QuickBooks.
Payroll Service if provided with the Accounting solution is really helpful, so if you are using QuickBooks Online and have recently subscribed for the Payroll Service, this article can help you setup and understand the uses of this feature. If you would require a consultation about which Payroll Plan will be best for you, then you must dial the QuickBooks Online Support Number and speak with the experts.

Steps that will allow you to setup QuickBooks Online Payroll:

• There will be many options on your QuickBooks Online home page. We have to select the “employees” tab and click on it.

• After clicking on the tab, a small bar will get opened with dropdown menus. We have to scroll down for the option namely ‘Payroll Setup “and click on that option.

• Then a wizard will get opened automatically namely “Welcome to QuickBooks Payroll Setup”

• The mini window will be separated into two sections. The left part consists of some lists and the right one has a “continue” option at the bottom. We have to click on that option with respect to the left list.

• We may click on that option for the first time. Second time, the left list will highlight the option “compensation” under “company setup”. If you are okay with the right side according to the highlighted right option, then you may click on “continue”.

• When it comes for the third time, the left side will highlight “employers’ benefits” under the same sub-heading “company setup”. Accordingly, we have to click on the “continue” option, so that the additions in paycheck or deduction can be set up in the next step.

• In the next step, we have to click on the insurance-related option. After then, there will be a small window that will get opened up with a few questions. We have to answer those accordingly and fill up the requirements.

• In this whole process, As we will be heading forward, there will beoptions like ”Employee Setup”, “taxes”, “year-to-date payrolls” etc. in the left part. So, we have to click accordingly and then finishing up by clicking on “Go to Payroll Center”.

• After finishing this small procedure, we will go back to the main desktop page, where there are many options in the toolbar. There will be an option named “Banking” in the toolbar.

• After clicking on “Banking”, there will be a drop down box from where we will select “Write Checks” option.

• Then a sub window will get opened. We need to fill up the question boxes accordingly, and then click on the “save and close” tab after putting all the information related to payroll, total amount and many more.

• If we want to check the report of profit and loss standard, then we have to go back to the desktop page and choose the “Report” option accordingly. The drop-down box will show the option “Company & Financial”. Clicking on this option will lead to the “Profit & Loss Standard” check.

• After this, in order to create weekly timesheet for all the employees, we need to go back to the option in the toolbar namely “Employees”. After clicking on the item, the drop down box will show “Enter Time”. After clicking on this option, “Use Weekly Timesheet” will get opened. We need to complete the sheet by filling up the ‘Customer Job’, ‘Service Item’, ‘Payroll Item’ etc accordingly. Then as usual, the save and close tab will indicate the finishing procedure.

• Now when it comes to pay employees, we need to click on the option called “Employees” and then “pay Employees”. Here we have to fill up the Payroll information and paycheck details and complete the section.

• Now, if we want to add any customized payroll items in the list, we have to again go back to the main toolbar, where the option “List”is available and we need to click on it. This will lead to the Payroll items. At the bottom, there will be an option “Payroll Item”, where after clicking this option, there will be dropdown list. This list contains a menu called “new” and one click on this will lead to the selection of set up method. Then there will be many question bar and we have to click on those in order to answer them and finish that. After this procedure, we may edit the employees’ profiles accordingly.

• Again, we need to go to the “Employees” option to reach “Pay Employees”. This will be done with repeated action in order to create and edit paycheck.

• Now, if anyone wants to check the final balance sheet, then he needs to click on the “Reports” in the toolbar and afterward, click on “Company and Financial” and then click on “Profit and Loss Standard”. It will even show the chart of transaction details.

• After the whole long procedure, there will be an option called “Print” on the bar which is under the main toolbar. Clicking on that option will lead to “Pay Stub”, where we can finally preview the whole pay stub which has been created for employees and then save and close it.

Uses of QuickBooks online Payroll:

There are some scenarios which indicate that payroll in QuickBooks are useful:

• We may get the calculation of the taxes and deductions automatically after running payroll after entering the data of time up to 50 employees in QuickBooks.
• It also helps to pay all the employees and contractors. Basically, free 24hours direct deposit makes payday easier.
• The state and federal payroll tax forms are filled automatically and this leads to go for e-filling. QuickBooks update all the payroll taxes.
• QuickBooks online payroll assists to simplify tax systems such as to file the workers’ tax documents and print those.

source: https://quickbookphonesupport.com/setup-use-quickbooks-online-payroll/