How to Create Or Setup New Payroll Items In Quickbooks
Payroll items are used in QuickBooks to track each and every amount on a paycheck and accumulate year-to-date wage and tax amounts for each employee. There are payroll items for taxes, compensation, other additions and deductions, and employer-paid expenses.
If case of setting up a new company file in QuickBooks, use the payroll setup interview to set up your entire payroll.
- It is not applicable for assisted payroll.
- If your payroll has already been set up, follow the steps below to create a new payroll item in QuickBooks.
- You must know the type of payroll item you would like to create in QuickBooks.
- Step by Step Process to create or setup new payroll items in QuickBooks
Go to the Lists > Payroll Item List, in the QuickBooks menu.
At the bottom left of the Payroll Item List, select the Payroll Item dropdown button, and click New.
Choose a setup method.
- Select Next and follow the on-screen instructions.
- To edit a payroll item, see How to edit a payroll item
- Ensure that the tax tracking type and taxability of a payroll item are correct. It is not recommended to make recommendations for setting up payroll items. Consult your tax advisor or accountant if you are not sure how an item should be set up.
- If certain expenses are needed to be tracked by employee type, it is recommended to use class tracking. Learn more about “classes”.
- By following the above mentioned steps, you can easily set up new payroll items in QuickBooks.
- To learn more about QuickBooks visit our website: www.techarex .net
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