C OMPUTER A CCOUNTING WITH Q UICK B OOKS 2010 C HAPTER 11 Donna Kay Maryville University of Saint Louis

C HAPTER 11 O VERVIEW  Enable Payroll  Set Up Payroll  Create Employee List  Print Paychecks  Pay Payroll Liabilities  Print Payroll Forms and Reports COMPUTER ACCOUNTING WITH QUICKBOOKS 2010

E NABLE P AYROLL 1.Select Edit, Preferences. 2.Select Payroll & Employees. 3.Click Company Preferences tab. 4.Select Full payroll. 5.Display Employee List by: Last Name. COMPUTER ACCOUNTING WITH QUICKBOOKS 2010

S ET U P P AYROLL When you process payroll using QuickBooks, you can:  Calculate payroll manually (used in this chapter)  Use a QuickBooks payroll service (used in Chapter 6) COMPUTER ACCOUNTING WITH QUICKBOOKS 2010

Q UICK B OOKS P AYROLL S ERVICES QuickBooks Payroll Services automatically calculate tax withholdings and require an Internet connection Payroll Services include:  Intuit Online Payroll  QuickBooks Basic Payroll  QuickBooks Enhanced Payroll  QuickBooks Assisted Payroll Service COMPUTER ACCOUNTING WITH QUICKBOOKS 2010

C ALCULATE P AYROLL M ANUALLY 1.Use the Help menu 2.Search for “process payroll manually” COMPUTER ACCOUNTING WITH QUICKBOOKS 2010

C ALCULATE P AYROLL M ANUALLY 3.Select: “manual payroll calculating” 4.Select: “set my company file to use manual tabulation” COMPUTER ACCOUNTING WITH QUICKBOOKS 2010

M ANUAL P AYROLL W ITH Q UICK B OOKS After you enable QuickBooks to process payroll manually, you will:  Go to Payroll Setup  Enter Employee List  Enter Time  Pay Employees  Pay Liabilities  Process Payroll Forms COMPUTER ACCOUNTING WITH QUICKBOOKS 2010

P AYROLL S ETUP Use the QuickBooks Payroll Setup wizard to enter information like:  Employee compensation  Employee benefits  Other additions and deductions  Employee tax information COMPUTER ACCOUNTING WITH QUICKBOOKS 2010

P RINT P AYCHECKS After entering time, prepare and print paychecks. COMPUTER ACCOUNTING WITH QUICKBOOKS 2010

P AYROLL L IABILITIES Payroll liabilities consist of:  Federal income tax withheld  State income tax withheld  FICA  FUTA  SUTA COMPUTER ACCOUNTING WITH QUICKBOOKS 2010

P AYROLL F ORMS Common payroll tax forms:  Form 941  Form 940 COMPUTER ACCOUNTING WITH QUICKBOOKS 2010

T O L EARN M ORE … Turn to Chapter 11 Visit the Online Learning Center Visit the Student Blog COMPUTER ACCOUNTING WITH QUICKBOOKS 2010