Donna Kay Maryville University of Saint Louis COMPUTER ACCOUNTING WITH QUICKBOOKS 2011 CHAPTER 6 EMPLOYEES AND PAYROLL Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved McGraw-Hill/Irwin

6-2 C HAPTER 6 O VERVIEW Employee List Time Tracking Transfer Time to Invoices Print Paychecks Pay Payroll Liabilities Payroll Reports

6-3 E MPLOYEE N AVIGATION

6-4 E MPLOYEE L IST Contains employee information, such as name and address Access from Home page or Employee Center

6-5 P AYROLL S ETUP Customize to company needs Set preferences and defaults

6-6 P ROCESSING P AYROLL IN Q UICK B OOKS 1.Enter Time 2.Pay Employees 3.Pay Liabilities 4.Process Payroll Forms

6-7 E NTER T IME U SING 1.Stopwatch 2.Timesheet 3.Online Timesheet

6-8 T RANSFER T IME T O I NVOICES

6-9 P AY E MPLOYEES Calculate withholdings and employee net pay Manually calculate payroll taxes Use QuickBooks payroll service Intuit Online Payroll QuickBooks Basic Payroll QuickBooks Enhanced Payroll QuickBooks Assisted Payroll Service

6-10 PAY EMPLOYEES Print paychecks: Voucher checks Standard checks and paystubs

6-11 P AY L IABILITIES Pay payroll tax liability Federal income taxes withheld State income taxes withheld Social security and Medicare, both employee and employer portions Unemployment taxes …and dont forget to file payroll tax forms.

6-12 P AYROLL R EPORTS Includes: Payroll reports: How much do we pay for payroll? Project reports: How much time did we use?

6-13 TO LEARN MORE … Turn to Chapter 6 Visit the Online Learning Center Visit the Student Blog