System Default Account Chapter 9 Payroll Processing Manual Accounting System QuickBooks Payroll Journal or Register Pay Employees windows Type Activity Window System Default Account Debit Credit Paycheck Pay Employees Salaries and Wages Expense Payroll Tax Expenses Payroll Withholdings Liabilities Cash – Payroll Liability Check Pay Payroll Liabilities Process Payroll Forms Employee Center Payroll Item List

Certain Helpful tips: In Pay Employee Window Processing information in Company/Employee Summary (adjusted) section: DO NOT use Enter key but Tab or Arrows or Mouse. Correct Errors in Paycheck Errors in paychecks CANNOT be corrected in Pay Employee window but in Paycheck-Cash-Payroll window, i.e. you may edit, delete, and start over. Correct errors in Pay Liabilities window Must use the Paycheck-Cash-Payroll (Write Checks) window

Payroll Reports, Accounting Reports, and Financial Statements Payroll Management Report Payroll Summary Report Earnings, deductions, and employer payroll taxes for each employee for a specified period of time Payroll Liability Balances Report All payroll liabilities owed and unpaid for a specified period of time Payroll Transaction Detail Report Detailed information for each payroll transaction recorded during the period Employee State Taxes Detail Report * Information such as type of state tax, amount of income subject to tax, and amount of each tax Payroll Gov’t Compliance Report Form 941 * Total wages paid to all employees, and withholdings Form 940 * FUTA Form W-2 * Employees’ earnings and withholdings for a year Accounting Reports & Financial Statements Journal Report Profit & Loss Standard Report Balance Sheet Standard Report