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COMPUTER ACCOUNTING WITH QUICKBOOKS 2011 CHAPTER 11

COMPUTER ACCOUNTING WITH QUICKBOOKS 2011 CHAPTER 11. Chapter 11 Overview. Enable Payroll Set Up Payroll Create Employee List Print Paychecks Pay Payroll Liabilities Print Payroll Forms and Reports. COMPUTER ACCOUNTING WITH QUICKBOOKS 2011. Enable Payroll. Select Edit > Preferences .

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COMPUTER ACCOUNTING WITH QUICKBOOKS 2011 CHAPTER 11

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  1. COMPUTER ACCOUNTING WITHQUICKBOOKS 2011CHAPTER 11

  2. Chapter 11 Overview • Enable Payroll • Set Up Payroll • Create Employee List • Print Paychecks • Pay Payroll Liabilities • Print Payroll Forms and Reports COMPUTER ACCOUNTING WITH QUICKBOOKS 2011

  3. Enable Payroll • Select Edit > Preferences. • Select Payroll & Employees. • Click Company Preferences tab. • Select Full payroll. • Display Employee List by: Last Name. COMPUTER ACCOUNTING WITH QUICKBOOKS 2011

  4. Set Up Payroll When you process payroll, you can: • Calculate payroll manually (Chapter 11) • Use a QuickBooks payroll service (Chapter 6) COMPUTER ACCOUNTING WITH QUICKBOOKS 2011

  5. QuickBooks Payroll Services QuickBooks Payroll Services automatically calculates tax withholdings and requires an Internet connection Payroll Services include: • Intuit Online Payroll • QuickBooks Basic Payroll • QuickBooks Enhanced Payroll • QuickBooks Assisted Payroll Service COMPUTER ACCOUNTING WITH QUICKBOOKS 2011

  6. Calculate Payroll Manually • Use the Help menu. • Search for process payroll manually. COMPUTER ACCOUNTING WITH QUICKBOOKS 2011

  7. Calculate Payroll Manually • Select manual payroll calculations. • Select Set my company file to use manual calculations. COMPUTER ACCOUNTING WITH QUICKBOOKS 2011

  8. QuickBooks Manual Payroll After you enable QuickBooks to process payroll manually… • Go to Payroll Setup • Enter Employee List • Enter Time • Pay Employees • Pay Liabilities • Process Payroll Forms 1 2 3 COMPUTER ACCOUNTING WITH QUICKBOOKS 2011

  9. Payroll Setup Use the QuickBooks Payroll Setup wizard to enter information such as: • Employee compensation • Employee benefits • Other additions and deductions • Employee tax information COMPUTER ACCOUNTING WITH QUICKBOOKS 2011

  10. Print Paychecks • After entering time, prepare and print paychecks. COMPUTER ACCOUNTING WITH QUICKBOOKS 2011

  11. Payroll Liabilities Payroll liabilities consist of: • Federal income tax withheld • State income tax withheld • FICA • FUTA • SUTA COMPUTER ACCOUNTING WITH QUICKBOOKS 2011

  12. Payroll Forms Common payroll tax forms: • Form 941 • Form 940 COMPUTER ACCOUNTING WITH QUICKBOOKS 2011

  13. TO LEARN MORE … • Turn to Chapter 11Visit the Online Learning Centerwww.mhhe.com/kay2011Visit the Student Blogwww.myquickbooks.me COMPUTER ACCOUNTING WITH QUICKBOOKS 2011

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