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COMPUTER ACCOUNTING WITH QUICKBOOKS 2011 CHAPTER 11 PowerPoint Presentation
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COMPUTER ACCOUNTING WITH QUICKBOOKS 2011 CHAPTER 11

COMPUTER ACCOUNTING WITH QUICKBOOKS 2011 CHAPTER 11

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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