COMPUTER ACCOUNTING WITH

QUICKBOOKS 2010

CHAPTER 11

Donna KayMaryville University of Saint Louis

CHAPTER 11 OVERVIEW

Enable PayrollSet Up PayrollCreate Employee ListPrint PaychecksPay Payroll LiabilitiesPrint Payroll Forms and Reports

COMPUTER ACCOUNTING WITH QUICKBOOKS 2010

ENABLE PAYROLL

1. Select Edit, Preferences.

2. Select Payroll & Employees.

3. Click Company Preferences tab.

4. Select Full payroll.

5. Display Employee List by: Last Name.

COMPUTER ACCOUNTING WITH QUICKBOOKS 2010

SET UP PAYROLL

When you process payroll using QuickBooks, you can:Calculate payroll manually (used in this chapter)Use a QuickBooks payroll service (used in Chapter 6)

COMPUTER ACCOUNTING WITH QUICKBOOKS 2010

QUICKBOOKS PAYROLL SERVICES

QuickBooks Payroll Services automatically calculate tax withholdings and require an Internet connection

Payroll Services include:Intuit Online PayrollQuickBooks Basic PayrollQuickBooks Enhanced PayrollQuickBooks Assisted Payroll Service

COMPUTER ACCOUNTING WITH QUICKBOOKS 2010

CALCULATE PAYROLL MANUALLY

1. Use the Help menu

2. Search for “process payroll manually”

COMPUTER ACCOUNTING WITH QUICKBOOKS 2010

CALCULATE PAYROLL MANUALLY

3. Select: “manual payroll calculating”

4. Select: “set my company file to use manual tabulation”

COMPUTER ACCOUNTING WITH QUICKBOOKS 2010

MANUAL PAYROLL WITH QUICKBOOKS

After you enable QuickBooks to process payroll manually, you will:Go to Payroll SetupEnter Employee ListEnter TimePay EmployeesPay LiabilitiesProcess Payroll Forms

COMPUTER ACCOUNTING WITH QUICKBOOKS 2010

PAYROLL SETUP

Use the QuickBooks Payroll Setup wizard to enter information like:Employee compensationEmployee benefitsOther additions and deductionsEmployee tax information

COMPUTER ACCOUNTING WITH QUICKBOOKS 2010

PRINT PAYCHECKS

After entering time, prepare and print paychecks.

COMPUTER ACCOUNTING WITH QUICKBOOKS 2010

PAYROLL LIABILITIES

Payroll liabilities consist of:Federal income tax withheldState income tax withheldFICAFUTASUTA

COMPUTER ACCOUNTING WITH QUICKBOOKS 2010

PAYROLL FORMS

Common payroll tax forms:Form 941Form 940

COMPUTER ACCOUNTING WITH QUICKBOOKS 2010

TO LEARN MORE …

Turn to Chapter 11

Visit the Online Learning CenterWWW.MHHE.COM/KAY2010

Visit the Student BlogWWW.QUICKBOOKSBLOG.INFO

COMPUTER ACCOUNTING WITH QUICKBOOKS 2010