How To Record Payroll In Quickbooks Desktop?

How to Record Payroll in Quickbooks Desktop

Payroll is one of the most important and time-consuming tasks for small business owners. Fortunately, Quickbooks Desktop makes it easy to track and manage your payroll, from entering employee information to generating paychecks.

In this article, we’ll walk you through the steps of recording payroll in Quickbooks Desktop. We’ll cover everything from setting up your company file to entering employee information and generating paychecks. By the end of this article, you’ll be able to confidently manage your payroll in Quickbooks Desktop and save yourself time and money.

What is Quickbooks Desktop?

Quickbooks Desktop is a popular accounting software program that helps small businesses manage their finances. It includes a variety of features that can help you track your income and expenses, manage your cash flow, and create financial reports. Quickbooks Desktop also includes a payroll module that makes it easy to track and manage your employee payroll.

How to Record Payroll in Quickbooks Desktop

To record payroll in Quickbooks Desktop, you’ll need to follow these steps:

1. Set up your company file.
2. Enter your employee information.
3. Create a payroll schedule.
4. Enter your payroll deductions.
5. Generate paychecks.
6. Pay your employees.

We’ll cover each of these steps in more detail below.

1. Set up your company file

The first step is to set up your company file in Quickbooks Desktop. This includes entering your company name, address, and tax information. You’ll also need to create a chart of accounts, which is a list of all the accounts you use to track your financial transactions.

2. Enter your employee information

The next step is to enter your employee information. This includes their names, addresses, Social Security numbers, and job titles. You’ll also need to enter their hourly wages or salaries, and any other deductions that they’re eligible for.

3. Create a payroll schedule

Once you’ve entered your employee information, you need to create a payroll schedule. This tells Quickbooks Desktop when to generate paychecks for your employees. You can choose to generate paychecks weekly, biweekly, or monthly.

4. Enter your payroll deductions

The next step is to enter your payroll deductions. This includes taxes, insurance premiums, and any other deductions that you withhold from your employees’ paychecks. You can enter these deductions manually, or you can use Quickbooks Desktop’s built-in deduction wizard.

5. Generate paychecks

Once you’ve entered all of your payroll information, you can generate paychecks for your employees. Quickbooks Desktop will automatically calculate the amount of each paycheck, and it will also withhold the appropriate taxes and deductions. You can print the paychecks or you can direct deposit them into your employees’ bank accounts.

6. Pay your employees

The final step is to pay your employees. You can either pay them by check or you can direct deposit their paychecks into their bank accounts. If you’re paying your employees by check, you can print the checks using Quickbooks Desktop. If you’re direct depositing their paychecks, you can enter their bank account information into Quickbooks Desktop and the program will automatically generate the electronic funds transfer (EFT) file.

By following these steps, you can easily record payroll in Quickbooks Desktop. This will save you time and money, and it will help you keep your payroll records organized and accurate.

Step	Action	Explanation
1	Open Quickbooks Desktop	Click the Quickbooks icon on your desktop.
2	Click the “Payroll” tab	This will open the Payroll menu.
3	Click the “Create Payroll” button	This will open the Create Payroll window.
4	Enter the employee’s name and information	This includes the employee’s name, address, social security number, and hourly wage.
5	Enter the number of hours worked	This includes the number of hours worked each day and the total number of hours worked for the week.
6	Enter the pay date	This is the date that the employee will be paid.
7	Click the “Save” button	This will save the payroll information and create a payroll check for the employee.

QuickBooks Desktop is a popular accounting software program that can be used to track your business finances, including payroll. This guide will walk you through the steps of recording payroll in QuickBooks Desktop.

We will cover everything from setting up your QuickBooks Payroll account to entering your payroll data and calculating your payroll taxes. By the end of this guide, you will be able to use QuickBooks Desktop to easily and accurately record your payroll.

Set up your QuickBooks Payroll

The first step is to set up your QuickBooks Payroll account. This can be done by following these steps:

1. Go to the QuickBooks Payroll menu and select Set Up Your Account.
2. Enter your company information, including your company name, address, and phone number.
3. Select the type of payroll you will be using. You can choose from hourly, salaried, or mixed.
4. Enter your employees’ information, including their names, addresses, and Social Security numbers.
5. Set up your payroll taxes. You will need to enter the rates for federal, state, and local taxes.
6. Set up your direct deposit. This is how you will pay your employees their wages.

Once you have set up your QuickBooks Payroll account, you can start entering your payroll data.

Enter your payroll data

The next step is to enter your payroll data. This includes the hours worked by your employees, their wages and deductions, and your payroll taxes.

To enter your payroll data, follow these steps:

1. Go to the QuickBooks Payroll menu and select Enter Payroll.
2. Select the date range for the payroll you are entering.
3. Enter your employees’ hours worked.
4. Enter your employees’ wages and deductions.
5. Calculate your payroll taxes.

QuickBooks will automatically calculate your payroll taxes based on the rates you entered when you set up your account.

Calculate your payroll taxes

The final step is to calculate your payroll taxes. QuickBooks will automatically calculate your payroll taxes based on the rates you entered when you set up your account.

You can view your payroll taxes by going to the QuickBooks Payroll menu and selecting View Payroll Taxes.

This guide has walked you through the steps of recording payroll in QuickBooks Desktop. By following these steps, you will be able to easily and accurately record your payroll.

For more information on QuickBooks Payroll, please visit the QuickBooks website.

3. Generate your payroll checks

Once you have entered all of your payroll information into QuickBooks, you can generate your payroll checks. To do this, follow these steps:

1. Go to the Payroll tab and click Pay Employees.
2. Select the date you want to pay your employees and click Continue.
3. Select the employees you want to pay and click Continue.
4. Enter the amount of each employee’s paycheck and click Continue.
5. Review your payroll information and click Pay Employees.

QuickBooks will generate your payroll checks and send them to your employees. You can also print your payroll checks from QuickBooks. To do this, follow these steps:

1. Go to the Payroll tab and click Payroll Reports.
2. Select the Payroll Check Register report and click View.
3. Click the Print button to print your payroll checks.

4. Send your payroll taxes to the government

Once you have generated your payroll checks, you need to send your payroll taxes to the government. To do this, follow these steps:

1. Go to the Taxes tab and click Federal Taxes.
2. Select the type of tax you need to pay and click Continue.
3. Enter the amount of taxes you owe and click Continue.
4. Review your tax information and click Pay Taxes.

QuickBooks will generate a tax payment voucher and send it to the government. You can also print your tax payment voucher from QuickBooks. To do this, follow these steps:

1. Go to the Taxes tab and click Tax Reports.
2. Select the Tax Payment Voucher report and click View.
3. Click the Print button to print your tax payment voucher.

5. Deposit your employees’ paychecks

Once you have generated your payroll checks and sent your payroll taxes to the government, you need to deposit your employees’ paychecks. To do this, follow these steps:

1. Go to your bank and open a business checking account.
2. Write a check to each of your employees for the amount of their paycheck.
3. Endorse the checks with your signature and the words “For Deposit Only.”
4. Deposit the checks into your business checking account.

4. Manage your payroll records

Once you have completed all of the steps above, you need to manage your payroll records. This includes keeping track of your payroll history, updating your payroll information as needed, and reviewing your payroll reports.

To keep track of your payroll history, you can use the Payroll History report in QuickBooks. This report shows you a list of all of your payroll transactions, including the date, amount, and type of transaction. You can use this report to track your payroll expenses and ensure that you are paying your employees correctly.

To update your payroll information as needed, you can use the Payroll Setup screen in QuickBooks. This screen allows you to change your company’s payroll settings, such as the tax withholdings and the pay frequencies. You can also use this screen to add new employees or delete existing employees.

To review your payroll reports, you can use the Payroll Reports menu in QuickBooks. This menu includes a variety of reports that you can use to track your payroll expenses, manage your payroll taxes, and ensure that you are paying your employees correctly.

By following these steps, you can easily record payroll in QuickBooks Desktop. QuickBooks is a powerful tool that can help you save time and money on your payroll processing.

How do I record payroll in QuickBooks Desktop?

To record payroll in QuickBooks Desktop, follow these steps:

1. Go to the Payroll menu and select Enter Payroll Transactions.
2. In the Payroll Setup dialog box, select the Employees tab and enter the employee’s name, address, and other information.
3. Select the Pay Period tab and enter the start and end dates of the pay period.
4. Select the Earnings tab and enter the employee’s wages, salaries, and other earnings.
5. Select the Deductions tab and enter the employee’s taxes, benefits, and other deductions.
6. Select the Payment Method tab and choose how you want to pay the employee.
7. Click OK to save the payroll transaction.

What are the different types of payroll transactions in QuickBooks Desktop?

There are three types of payroll transactions in QuickBooks Desktop:

• Employee Earnings transactions record the wages, salaries, and other earnings paid to employees.
• Employee Deductions transactions record the taxes, benefits, and other deductions withheld from employees’ paychecks.
• Employee Payments transactions record the payments made to employees.

How do I create a new employee in QuickBooks Desktop?

To create a new employee in QuickBooks Desktop, follow these steps:

1. Go to the Employees menu and select New Employee.
2. In the New Employee dialog box, enter the employee’s name, address, and other information.
3. Select the Earnings tab and enter the employee’s wages, salaries, and other earnings.
4. Select the Deductions tab and enter the employee’s taxes, benefits, and other deductions.
5. Select the Payment Method tab and choose how you want to pay the employee.
6. Click OK to save the employee.

How do I edit an employee’s information in QuickBooks Desktop?

To edit an employee’s information in QuickBooks Desktop, follow these steps:

1. Go to the Employees menu and select Edit Employee.
2. In the Edit Employee dialog box, make the necessary changes to the employee’s information.
3. Click OK to save the changes.

How do I delete an employee in QuickBooks Desktop?

To delete an employee in QuickBooks Desktop, follow these steps:

1. Go to the Employees menu and select Delete Employee.
2. In the Delete Employee dialog box, select the employee you want to delete and click OK.

How do I print a payroll check in QuickBooks Desktop?

To print a payroll check in QuickBooks Desktop, follow these steps:

1. Go to the Payroll menu and select Print Paychecks.
2. In the Print Paychecks dialog box, select the paycheck you want to print and click OK.
3. The paycheck will be printed.

How do I make a change to a payroll transaction in QuickBooks Desktop?

To make a change to a payroll transaction in QuickBooks Desktop, follow these steps:

1. Go to the Payroll menu and select Edit Payroll Transactions.
2. In the Edit Payroll Transactions dialog box, select the transaction you want to change and click Edit.
3. Make the necessary changes to the transaction and click OK.

How do I void a payroll transaction in QuickBooks Desktop?

To void a payroll transaction in QuickBooks Desktop, follow these steps:

1. Go to the Payroll menu and select Edit Payroll Transactions.
2. In the Edit Payroll Transactions dialog box, select the transaction you want to void and click Void.
3. The transaction will be voided.

How do I reconcile my payroll bank account in QuickBooks Desktop?

To reconcile your payroll bank account in QuickBooks Desktop, follow these steps:

1. Go to the Banking menu and select Reconcile Bank Account.
2. In the Reconcile Bank Account dialog box, select the bank account you want to reconcile and click Begin Reconciliation.
3. Enter the beginning balance of the bank account and the ending balance of the bank statement.
4. Match the transactions in QuickBooks

In this article, we have discussed how to record payroll in QuickBooks Desktop. We covered the steps involved in entering employee information, creating a payroll schedule, and generating payroll checks. We also discussed how to make changes to payroll information and how to run payroll reports.

We hope that this article has been helpful and that you are now able to record payroll in QuickBooks Desktop with ease. If you have any further questions, please do not hesitate to contact us.