QuickBooks Payroll – QuickBooks Online

Processing QuickBooks Online payroll for a small business, generating paychecks, processing payroll tax forms

Created by: Robert (Bob) Steele
CPA, CGMA, M.S. Tax, CPI

What Will I Learn?

• List and describe payroll related legislation
• Enter new employee information into QuickBooks and describe where to get the data necessary to add a new employee
• Set up and calculate Federal Income Tax (FIT)
• Describe the Federal Income Contribution Act and its components
• Set up and calculate social security
• Set up and calculate Medicare
• Set up and calculate Federal Unemployment
• Describe and calculate employer payroll taxes
• Generate payroll journal entries from payroll reports
• Generate and analyze Form 941 Employer's Quarterly Federal Tax Return
• Generate and analyze Form 940 Employer's Annual Federal Unemployment (FUTA) Tax Return
• Generate and analyze Forms W-2 & W-3
• Reconciling year end payroll tax forms
• Generate and analyze a payroll register and payroll reports
• Describe mandatory and voluntary deductions and how they are entered into QuickBooks Online
• List and describe types of retirement plans and how to set them up in QuickBooks Online
• Enter comprehensive payroll problem into QuickBooks Online
• Setup paid payroll in QuickBooks Online
• Process payroll in QuickBooks Online

Requirements

• We should be familiar with QuickBooks and or accounting.

Target audience

• Bookkeeper who want to learn how to use QuickBooks Online payroll
• Business owners who want to learn QuickBooks Online payroll
• Accounting students who want a better understanding of payroll concepts and how they are used in accounting software
• Business professionals who want a better understanding of how payroll works