Quickbooks is an accounting software that is used to organize and calculate financial figures and other relative information. It gives you the advantage of creating quality financial work with the helpful advantage of today's technology. Although Quickbooks does require some computer experience with spreadsheets and accounting, this does not mean that it is difficult to master. With proper instruction and guidance, anyone can learn this procedure. This article will teach you how to use the Quickbooks software to create professional payroll spreadsheets and databases.
How to Use Quickbooks for Payroll
Click on the "Quickbooks" icon on your computer's desktop screen to open the program. When the program loads, it will appear displaying the default platform module. You will need to construct the payroll setup configuration. You can do so by clicking the "Employees" link located at the top of the program's navigation menu bar. Click "Setup Payroll" which will be listed as a subcategory in the "Employees" dropbox. The setup wizard will appear and allow you to configure your default settings for tax deductions, payment and hourly calculations, and yearly salary calculations.
Click "Choose a Payroll Option" when the first setup wizard screen appears. You will be given three suboptions to choose from. Choose "Complete Payroll" to automatically generate the calculations and tax withholdings when the hours and other time is entered into the system. This can serve as a major time because its saves time and cuts down on the number of possible mistakes.
Setup the employee database. The screen display employee information data forms that will need to be completed. Each subject will be separated by tabs according to its importance and subject matter. You will need to manually enter each employee's information. This information will consist of the employee's personal information. Items such as their date of birth, social security or tax identification number, military service, disability information, formal spelling of the employee's name, and address. When you have completed one tab, click "Change Tab" to enter the set of information. The next tab will display the "Payroll and Compensation Module".
Click in the "Earnings" box located in the compensation table of the module. This information is extremely important and must be entered accurately. In this particular tab, you will need to input individual information for each employee because this information varies vastly depending on the employee. Enter the pay rate, compensation, sick days, vacation days, pay period dates, and other information your company uses regarding payment calculations and accounting. Direct deposit is also an important aspect of accuracy as well. Routing numbers and account numbers should be entered correctly to ensure funds are sent to the appropiate locations.
Change the tab to continue. The next tab will be "Employment Info". This portion contains all employment status information such as whether the employee is full time or part time, the hire and termination dates. The employee's position and job description details may also be included in this section upon your discretion. Click "OK" to close and save the input process. Your Quickbooks software will generate your payroll checks automatically for visual purposes. It will display a capture mode visual of the check to ensure it is done correctly. You will be given the option to print an authentic form of the check for later or save it's contents and database for later. Choose your action for the finished product according to your own discretion.
Double-check all of your work before exporting your figures and other information. The Intuit Payroll Service in your payroll options is highly recommended to avoid manual input. Be sure the spelling of each employee's name is correct. This can cause problems for the employee when they receive compensation payments. Consider utilizing the Quickbooks notepad that has been implemented in the "Employees" section. This can be uses as a means of recordation of employer and employee interaction and observation. Implement your Quickbooks timer. This tool serves as a great reminder asset for pinpointing the due dates of invoices and employee payroll exporting. Always print physical copies of your work for cautionary purposes. If you plan to leave the information on your computer or program database only, back the program and files as a safety measure. You should never have just one copy of your work, especially not just on a computer with documentation files such as these.
Avoid entering all figures manually. This leaves room for lots of minute errors which can have long term affects on accounting accuracy. Review all information in the "Paycheck Review" screen before printing to ensure accuracy. Go over your payroll liabilities report before and after printing checks to be certain your information input is correct. Always maintain accurate tax records. Regardless of the Quickbooks calculation generator, you will still need to enter the correct information to receive accurate figures. Don't depend solely on your computer and it's calculator. Always critique your own work.