C OMPUTER A CCOUNTING WITH Q UICK B OOKS 2012 C HAPTER 11 Donna Kay Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin Merchandising Corporation: Payroll

C HAPTER 11 O VERVIEW  Enable Payroll  Set Up Payroll  Create Employee List  Print Paychecks  Pay Payroll Liabilities  Print Payroll Forms and Reports 11-2

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 11-3

P AYROLL O PTIONS When you process QuickBooks payroll, you can:  Calculate payroll manually (Chapter 11)  Use a QuickBooks payroll service (Chapter 6) 11-4

Q UICK B OOKS P AYROLL S ERVICES QuickBooks Payroll Services automatically calculates tax withholdings and requires an Internet connection QuickBooks Payroll Services include:  Basic Payroll  Enhanced Payroll  Assisted Payroll 11-5

1.Use the Help menu. 2.Search for manual payroll. 3.Select Process payroll manually. C ALCULATE P AYROLL M ANUALLY 11-6

C ALCULATE P AYROLL M ANUALLY 4.Select manual payroll calculations. 11-7

C ALCULATE P AYROLL M ANUALLY 5.Select Set my company file to use manual calculations. 11-8

After you enable QuickBooks to process payroll manually…  Go to Payroll Setup  Enter Employee List  Enter Time  Pay Employees  Pay Liabilities  Process Payroll Forms Q UICK B OOKS M ANUAL P AYROLL 11-9

P AYROLL S ETUP Use QuickBooks Payroll Setup to enter information such as:  Employee compensation  Employee benefits  Other additions and deductions  Employee tax information 11-10

P RINT P AYCHECKS After entering time:  Enter payroll information  Review & create paychecks  Print and distribute paychecks 11-11

P AYROLL L IABILITIES Payroll liabilities consist of:  Federal income tax withheld  State income tax withheld  FICA  FUTA  SUTA 11-12

P AYROLL F ORMS Common payroll tax forms:  Form 941  Form

T O L EARN M ORE … Turn to Chapter 11 Visit the Online Learning Center Visit