However, getting started might feel daunting. The good news is that you\u2019ve arrived at the perfect place. This guide will walk you through simple, easy-to-follow steps on how to do payroll in QuickBooks like the professional that you are. <\/p>\n\n\n\n
Let\u2019s dive in!<\/p>\n\n\n\n
What is payroll on QuickBooks?<\/h2>\n\n\n\n
Payroll is the management of employee payments to ensure everyone gets paid accurately and on time. It\u2019s also a way for businesses to stay on top of taxes and deductions, keeping everything organized throughout the year. The payroll feature in QuickBooks<\/a> essentially simplifies this process. An all-in-one tool, it handles everything for you, including:<\/p>\n\n\n\n Setting up and running payroll in QuickBooks is a straightforward process. <\/p>\n\n\n\n Begin by selecting and paying for a subscription plan. QuickBooks offers three tiered plans ranging from $85 to $184 per month. Keep an eye out for limited-time discounts, as Intuit often provides promotions for new users. Note that the first two plans include an additional charge of $6 per employee, while the premium plan charges $9 per employee.<\/p>\n\n\n\n Once you\u2019ve chosen a plan: <\/p>\n\n\n\n QuickBooks Online Payroll makes managing payroll easier and more accessible than ever. With its cloud-based platform, you or your accountant<\/a> can run payroll from anywhere in five easy steps, whether at the office, at home, or on the go!<\/p>\n\n\n\n First off, verify the following employee information:<\/p>\n\n\n\n While not necessary, it’s smart to set up a pay schedule for more efficient payroll:<\/p>\n\n\n\n Image credit: QuickBooks<\/a><\/em><\/p>\n\n\n\n Once that’s done, you\u2019ll input employee wages, benefits, and deductions. Then, you can track work hours, approve time, and let QuickBooks calculate your paychecks. When payday arrives, you only review and process the payments<\/a>.<\/p>\n\n\n\n QuickBooks also handles payroll taxes for certain plans by filing them automatically for you! However, users of Basic or lower-tier plans may need to file taxes manually. <\/p>\n\n\n\n In the “Payroll” tab, select the employee whose information you want to update or confirm. On their profile page, you can easily check and edit their salary details if they are salaried employees, ensuring that the annual salary amount is correctly entered. For hourly employees, you\u2019ll want to confirm the hourly rate and input the number of hours worked for the pay period. <\/p>\n\n\n\n Image credit: QuickBooks<\/a><\/em><\/p>\n\n\n\n You can also add memos or notes in designated fields to provide context or reminders related to specific payroll entries. <\/p>\n\n\n\n Having made all necessary adjustments in the previous step, it’s time to review all the details before you finalize payments. Double-check employee hours, wages, tax deductions, and any benefits or adjustments to be sure everything is in order. <\/p>\n\n\n\n With pay schedules in place, proceed to create and send payroll. In the “Run payroll” section, select the employees you want to pay. Verify that the pay period and pay date are correct. <\/p>\n\n\n\n For hourly employees, enter their hours worked. For salaried employees, confirm their salary amounts. Once everything is accurate, click “Preview payroll” to review all details.<\/p>\n\n\n\n Image credit: QuickBooks<\/a><\/em><\/p>\n\n\n\n Pay attention to this review to avoid overpayments, underpayments, or incorrect tax filings, and ensure your team is paid correctly and on time.<\/p>\n\n\n\n Submitting payroll in QuickBooks Online is the last step in processing your reviewed information \u2014 employee wages, hours, deductions, and taxes. Once you submit, QuickBooks swoops in, distributing payments via direct deposit or checks<\/a>, if configured.<\/p>\n\n\n\n All you have to do now is click “Submit payroll.” If paying by direct deposit, ensure that all bank account information is correct and submit payroll at least two business days before the pay date to ensure timely payments. For paper checks, QuickBooks provides an option to print them directly from the platform. Following these steps ensures a smooth payroll process for your business.<\/p>\n\n\n\n For eligible plans (e.g., Premium or Elite), QuickBooks can automatically file tax forms upon submission, making your business appear responsible and helping you avoid penalties. Note that automatic features may not apply to all employees (e.g., those with variable hours).<\/p>\n\n\n\n To correct payroll mistakes in QuickBooks whenever they occur, review each entry carefully to identify variables in the payroll that contain the mistakes \u2014 like inaccurate wages, hours, or deductions. <\/p>\n\n\n\n To correct payroll mistakes in QuickBooks whenever they occur:<\/p>\n\n\n\n Promptly fixing mistakes can help save you from tax filing problems, maintain employee trust, and keep your records clean<\/a>.<\/p>\n\n\n\n QuickBooks Desktop payroll offers many of the same features as its online counterpart but with a more traditional software setup. Unlike QuickBooks Online, which is cloud-based and accessible from anywhere, QuickBooks Desktop requires installation on a specific computer and can be used offline. <\/p>\n\n\n\n While both versions help businesses process payroll, the Desktop version may appeal to businesses with complex needs like job costing or tracking multiple pay schedules. Let\u2019s explore the key steps involved in processing payroll using QuickBooks Desktop.<\/p>\n\n\n\n QuickBooks Desktop offers you three options: <\/p>\n\n\n\n Basic Payroll allows you to calculate payroll manually and print paychecks, while Enhanced Payroll offers additional features like direct deposit and tax calculations. Assisted Payroll provides full-service payroll, where QuickBooks handles tax calculations, filings, and payments on your behalf. Choose the one that best aligns with the level of support and automation your business requires.<\/p>\n\n\n\n Open the software and navigate to the top menu bar. From there, select the “Employees” option, which will drop down a menu where you can choose “Payroll Center.” <\/p>\n\n\n\n Image credit: QuickBooks<\/a><\/em><\/p>\n\n\n\n This will take you to the payroll dashboard, where you can manage your payroll tasks, including running payroll, adding employees, and viewing past payroll transactions. <\/p>\n\n\n\n\n
How do I set up QuickBooks Payroll?<\/h3>\n\n\n\n
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Online payments, automated leads, and customer management?<\/h3>\n\n\n\n
How to process payroll in QuickBooks Online<\/h2>\n\n\n\n
Step 1: Confirm employee information and set up pay schedules<\/h3>\n\n\n\n
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![\"Screenshot](\"https:\/\/www.method.me\/wp-content\/uploads\/2024\/12\/quickbooks-online-payroll-menu-1.png\")
<\/figure>\n\n\n\nStep 2: Confirm additional details like salary, memos, and hours<\/h3>\n\n\n\n
![\"Screenshot](\"https:\/\/www.method.me\/wp-content\/uploads\/2024\/12\/quickbooks-online-payroll-employees.png\")
<\/figure>\n\n\n\nStep 3: Preview payroll<\/h3>\n\n\n\n
![\"Screenshot](\"https:\/\/www.method.me\/wp-content\/uploads\/2024\/12\/quickbooks-online-payroll-preview.png\")
<\/figure>\n\n\n\nStep 4: Submit payroll<\/h3>\n\n\n\n
Step 5: Fix errors<\/h3>\n\n\n\n
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Running your business takes more than bookkeeping.<\/h3>\n\n\n\n
Key steps for processing payroll in QuickBooks Desktop<\/h2>\n\n\n\n
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Step 1: Advance to the payroll section in QuickBooks<\/h3>\n\n\n\n
![\"Screenshot](\"https:\/\/www.method.me\/wp-content\/uploads\/2024\/12\/quickbooks-desktop-payroll-center.png\")
<\/figure>\n\n\n\n![\"Screenshot](\"https:\/\/www.method.me\/wp-content\/uploads\/2024\/12\/quickbooks-desktop-new-payroll-schedules.png\")
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![\"Screenshot](\"https:\/\/www.method.me\/wp-content\/uploads\/2024\/12\/quickbooks-desktop-pay-employees.png\")
<\/figure>\n\n\n\n![\"Screenshot](\"https:\/\/www.method.me\/wp-content\/uploads\/2024\/12\/quickbooks-desktop-scheduled-payroll.png\")
<\/figure>\n\n\n\n![\"Screenshot](\"https:\/\/www.method.me\/wp-content\/uploads\/2024\/12\/quickbooks-desktop-start-scheduled-payroll.png\")
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