Using Basic QuickBooks Payroll

Increase Your Business Using Basic QuickBooks Payroll

BUSINESS

When we talk about a business from a financial view, ensuring that your employees are paid on time is a very important element. The main reason for this is that you have many responsibilities as the owner and this is one of those which can not be neglected at any cost.

Managing your business’s basic QuickBooks Payroll Support Phone Number is one part of the job- you have to handle all the other things that are related to payroll as well, like taxes and other deductions that have to be made before the checks are finalized. The taxes have to be calculated correctly as any errors will result in additional problems and headaches for you, the owner.

This is why your company’s payroll can get quite complicated to deal with, especially if you have a small business. The number of employees does not matter- you may have just hired your first staff member, or have a seasoned team of 5-15 personnel- as long as you have the workforce, providing timely payroll will have to be on your list of priorities.

QuickBooks basic payroll can make life easier for you by making your payroll and tax work completely correct and organized, thereby helping these tasks get completed faster. However, it is highly necessary for you to understand certain things before you decide to start using payroll.

Start With Basic QuickBooks Payroll

The first thing to know is exactly what you are getting with the basic version. After that, you can move on to the steps to help set this up on your accounting software. It is important to note that your accounting software needs not to be QuickBooks, in order to use the basic payroll feature.

Before we begin with the steps though, it is advisable that you keep certain data that will have to be entered available with you. It will help things go more smoothly and speed up the payroll process for you.

Keep in mind that these points are not necessarily ‘steps’ to be followed in the exact same order by every QuickBooks user. These are some tips and useful points to help you understand better the details of Basic QuickBooks Payroll. These are the points given below:-

  • Maintain and keep any data related to your organization, employees and other details close at hand.
  • In case you want to access any of the above data, just look for a gear icon that is typically used for Settings and select the Payroll Settings option. It is usually located on the upper right corner, like in QuickBooks Online.
  • Most of the information was entered by you or your accountant when you had signed up on your accounting software. This includes your company details such as contact and office location information along with employee data.

Fill any missing information and ensure that all of the data entered is accurate and complete.

  • It is recommended that if you have an accountant or CPA, let them handle and customize certain sections of QuickBooks Basic Payroll like the Accounts Chart.
  • Don’t forget to mention the Pay Schedules for your employees. This can be customized by clicking Create and selecting the required period as per your company’s payroll policies.
  • Once that is done, enter and check the date you want to generate the first payroll for. You have to enter two dates to set the time period of the payroll- the start as well as the end date.
  • You can make adjustments in the following sections as well-
    • Vacation/Sick leave
    • General Pay Policies- Deductions/Contributions
    • Health and other insurance benefits
    • Child Support
  • Taxes- Aside from payroll, taxes need to be calculated correctly. This is because any incorrect information can lead to filing mistakes and penalties.

If you would like more help regarding the Basic QuickBooks Support Number, you can always get it from our experts.

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