donna kay maryville university of saint louis computer accounting with quickbooks 2011 chapter 6...

Donna KayMaryville University of Saint Louis

COMPUTER ACCOUNTING WITH

QUICKBOOKS 2011

CHAPTER 6EMPLOYEES AND

PAYROLL

Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reservedMcGraw-Hill/Irwin

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CHAPTER 6 OVERVIEW

Employee List Time Tracking Transfer Time to Invoices Print Paychecks Pay Payroll Liabilities Payroll Reports

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EMPLOYEE NAVIGATION

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EMPLOYEE LIST

Contains employee information, such as name and address

Access from Home page or Employee Center

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PAYROLL SETUP

Customize to company needs Set preferences and defaults

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PROCESSING PAYROLL IN QUICKBOOKS

1. Enter Time

2. Pay Employees

3. Pay Liabilities

4. Process Payroll Forms

1 2 3 4

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ENTER TIME USING

1. Stopwatch

2. Timesheet

3. Online Timesheet

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TRANSFER TIME TO INVOICES

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PAY EMPLOYEES

Calculate withholdings and employee net payManually calculate payroll taxesUse QuickBooks payroll service

Intuit Online PayrollQuickBooks Basic PayrollQuickBooks Enhanced PayrollQuickBooks Assisted Payroll Service

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PAY EMPLOYEES

Print paychecks:Voucher checksStandard checksand paystubs

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PAY LIABILITIES

Pay payroll tax liabilityFederal income taxes withheldState income taxes withheldSocial security and Medicare, both employee and employer portionsUnemployment taxes

…and don’t forget to file payroll tax forms.

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PAYROLL REPORTS

Includes:Payroll reports: How much do we pay for payroll?Project reports: How much time did we use?

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TO LEARN MORE …

Turn to Chapter 6

Visit the Online Learning Centerwww.mhhe.com/kay2011

Visit the Student Blogwww.myquickbooks.me