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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.

For those who may be an employee in Washington state or an employer who has employees based in Washington state, but haven't been getting updates on the Paid Family and Medical Leave Benefits: we just got an update from the Washington State Employment Security Department. Glance further below, for a fairly comprehensive update of what's happening so far.

Washington State Paid Family Leave [UPDATE]

For those who may be an employee in Washington state or an employer who has employees based in Washington state, but haven’t been getting updates on the Paid Family and Medical Leave Benefits: we just got an update from the Washington State Employment Security Department.  Glance further below, for a fairly comprehensive update of what’s happening so far.

The new Transit Tax does not go into effect until July 1, but Intuit/QuickBooks has already put it into the payroll items list so it is affecting payroll.

Year End Small Business Accounting Checklist [Infographic]

Don’t forget to book your year-end review! As we come to the end of yet another fiscal year, and approach the start of a new tax season, ebs Associates is recommending that our clients take time to schedule a year-end review with their ebs Financial Controller. Depending on your needs, this review can be done over the phone, via email or in person.

  • General Ledger Review
  • Budget Analysis & Planning
  • Tax Prep & Plan for 1099s & W2s
  • Review Insurance Policies, Leases & Loan Documents
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.

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