Intuit has made the payroll system for customers far easier than ever before! From getting you to set up your payroll taxes to making easier payments to the employee through payroll management. Everything is taken care of when you choose Intuit assisted payroll services. QuickBooks software is a whole world of accounting, bookkeeping, taxes, payroll, and financial services.
It gives businesses, small and medium-size the information to manage their accounts and handle their finances in full swing. Setting payroll taxes in QuickBooks is one fantastic feature to make use of, helping users to manage their taxes amidst everyday business life. In this article, we will give you a glance at how to do the same without facing any complications whatsoever.
How to handle payroll Taxes in QuickBooks Services?
Handling it can be a bit time consuming and also pretty difficult. When you do so, you need to give importance to every detail in mind and then begin with the tax payments.
This is major because a large group of employees that works for you are dependent and waiting for the salaries.
For that very reason, setting up payroll taxes is quite crucial and it will also increase your ability to handle payroll tasks along with saving your time.
How to setup Payroll Taxes?
Find the tax option
- You can find the tax option button at the main menu bar click on that
Tax center of payroll
- If you are a QuickBooks user, you just have to adjust the QuickBooks payroll online. If possible, make sure you check once whether the payroll tax option has been selected or not?
- Go through the information and be assured that the QuickBooks team will be there for you, the support team can constantly inform and update you if you need any help.
Set taxes that are payroll compliance
- The employees that you have already set up on your payroll system in QuickBooks will be showcased as a list on the screen right in front of you.
- Moving on, you will be required to set up their birth date, and all the other information regarding each employee, it can be their hiring date, payment details, etc.
- If you need to get the information in detail regarding an employee, you get to go through the I9 form and then move ahead with the W4 forms that have to be filled by the employees.
Put company Details
- You need to fill in the name of your business first, so put a legal business name
- Now, your business location address details need to be added up manually, else it will take up automatically if you allow location permission
- Moving on, fill in the details of your first payroll. Mention the dates on which you will be running the payroll the first time.
- Now, put in the date of hiring the 1st employee. In this case, you will be able to mention the employee was hired within 6 months by clicking on Yes or No.
Add Federal Tax Details
Now you need to fill in the below-mentioned information
- FEIN; Mention the federal tax ID
- Forms for payroll taxes: Fill in the payroll tax form that is assigned to you
- Pay federal tax: Select the right period for which the federal payroll tax payments needs to be mentioned
- Nonprofit status: Is it your NPO or no? accordingly answer Yes or No
Share Details
- Now, fill in the state employer account number
- SUI will be the information piece that is assigned to each of the employers by EDD itself
- Now, as an employer, you will be required to file a schedule for which you will set up payroll taxes in your QuickBooks
- ETT is an employment training tax that is the same for all employees belonging to the same state.
Set E-file and E-functions
- There will be two options provided to you for payment, either you can select thee pay option or the E-file option or you can also choose manual payments
- Account cares recommend that E-file and E pay option will save your time and the process if it is purely automatic.
- Through the manual option, you need to make the payment through the paper coupons and it might consume a lot of your time.
Make the Payment
Once all the above steps are completed, you can easily make the payment and enjoy your payroll tax submission with ease.
This is exactly how you go about your payroll taxes on QuickBooks software. It will help you handle your taxes with ease and without any complications. Simple is to follow all the above steps carefully and understand each of the steps. If you have any difficulties you can always reach to the QB support team and get their help for the following issues.
