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Payroll Setup Tag

QuickBooks Payroll Items: What Are They?

QuickBooks Payroll Items: What Are They?

If you plan to process your own payroll using QuickBooks, you need to understand how payroll items work.

Considering processing your own payroll in QuickBooks? Whether you’re moving from a payroll service or getting ready to pay your first employee, you’re taking on a complex set of tasks that requires a great deal of setup and absolute precision. But the reward is complete control over your compensation records and transactions, and constant access to your payroll data.

If you have no experience dealing with paychecks, deductions, and payroll taxes, we strongly recommend that you let us help you get started. QuickBooks simplifies the actual mechanics of setting up and running payroll, but there’s still a lot you need to know.

It goes without saying that accuracy is critical here. You’re responsible for your employees’ livelihoods and for maintaining any benefits they’ll receive. Federal, state, and local taxing agencies will count on you to submit the proper payroll taxes and filings on time; failure to do so can result in stiff penalties and worse.

5 Common Payroll Mistakes And How To Avoid Them

payroll-accountingEvery business knows that payroll is vital to its operation. However, any problems, however minor, could affect virtually every business level. In fact, payroll mistakes are costing businesses thousands annually to rectify.

That’s why it’s imperative you develop a solid tax compliance and payroll processing plan to prevent possible payroll fees and errors. Here are 5 payroll mistakes to avoid.

Payroll Expenses for Employers

Federal law requires most employers to withhold federal taxes from their employees’ wages. Whether you’re a small business owner who’s just starting out or one who has been in business a while and is ready to hire an employee or two, here are five things you should know about withholding, reporting, and paying employment taxes.

Out Of The Box Technology Blog

Who Needs to Pay Quarterly Taxes?

Do I need to pay quarterly taxes? If your employer withholds money each week from your paycheck, then you likely don’t have to think about making quarterly tax payments. However, for those of us who are self-employed or receive income in the form of interests, dividends, rent, alimony, gains from the sale of assets, prizes or awards, it may be necessary to make quarterly estimated tax payments to the IRS.

Understanding types of Accounting Fraud Identify potential suspects Understand red flags Learn how to minimize risk for your clients Explore real examples

How to Keep Your QuickBooks Data Safe

You work hard to make sure your QuickBooks data is accurate. Make sure it’s safe, too.

Your QuickBooks company file contains some of the most sensitive information on your computer. You may have your customers’ credit card numbers and your employees’ Social Security numbers saved inside. An intruder who captured all that data could create tremendous problems for you and a lot of other people.

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