Donna Kay Maryville University of Saint Louis COMPUTER ACCOUNTING WITH QUICKBOOKS 2011 CHAPTER 11

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 2011

1.Select Edit > Preferences. 2.Select Payroll & Employees. 3.Click Company Preferences tab. 4.Select Full payroll. 5.Display Employee List by: Last Name. E NABLE P AYROLL COMPUTER ACCOUNTING WITH QUICKBOOKS 2011

S ET U P P AYROLL When you process payroll, you can:  Calculate payroll manually (Chapter 11)  Use a QuickBooks payroll service (Chapter 6) COMPUTER ACCOUNTING WITH QUICKBOOKS 2011

Q UICK B OOKS P AYROLL S ERVICES QuickBooks Payroll Services automatically calculates tax withholdings and requires an Internet connection Payroll Services include:  Intuit Online Payroll  QuickBooks Basic Payroll  QuickBooks Enhanced Payroll  QuickBooks Assisted Payroll Service COMPUTER ACCOUNTING WITH QUICKBOOKS 2011

1.Use the Help menu. 2.Search for process payroll manually. C ALCULATE P AYROLL M ANUALLY COMPUTER ACCOUNTING WITH QUICKBOOKS 2011

C ALCULATE P AYROLL M ANUALLY 3.Select manual payroll calculations. 4.Select Set my company file to use manual calculations. COMPUTER ACCOUNTING WITH QUICKBOOKS 2011

Q UICK B OOKS M ANUAL P AYROLL After you enable QuickBooks to process payroll manually…  Go to Payroll Setup  Enter Employee List  Enter Time  Pay Employees  Pay Liabilities  Process Payroll Forms 123 COMPUTER ACCOUNTING WITH QUICKBOOKS 2011

P AYROLL S ETUP Use the QuickBooks Payroll Setup wizard to enter information such as:  Employee compensation  Employee benefits  Other additions and deductions  Employee tax information COMPUTER ACCOUNTING WITH QUICKBOOKS 2011

P RINT P AYCHECKS After entering time, prepare and print paychecks. COMPUTER ACCOUNTING WITH QUICKBOOKS 2011

P AYROLL L IABILITIES Payroll liabilities consist of:  Federal income tax withheld  State income tax withheld  FICA  FUTA  SUTA COMPUTER ACCOUNTING WITH QUICKBOOKS 2011

P AYROLL F ORMS Common payroll tax forms:  Form 941  Form 940 COMPUTER ACCOUNTING WITH QUICKBOOKS 2011

TO LEARN MORE … COMPUTER ACCOUNTING WITH QUICKBOOKS 2011 Turn to Chapter 11 Visit the Online Learning Center Visit the Student Blog