How to set up an annual salary payroll in QuickBooks
Paying your employees correctly as well as on time is more than being a good employer and it is the law. As your payroll expense is probably the largest expense that you have, then keeping track of it is very much important.
If you want to set up all of your payroll such as benefits, employees, compensation, taxes, and payroll history, then you need to use the Payroll Setup interview.
Here are the steps to do this task:-
Step 1 – You need to go to the Lists menu and then click on the Payroll Item List.
Step 2 – Click on the Payroll Item button and then click on New.
Step 3 – Select EZ Setup and then click on the Next button.
Step 4 – Select Compensation and then click on the Next button.
Step 5 – Then the Payroll Setup window will open.
Step 6 – Select Salary and then click on the Next button.
Step 7 – Now, you need to follow the onscreen instructions and then click on Next button.
Step 8 – You can click on the click Previous button if you want to go back to a previous window.
Step 9 – Now, click on the Finish button when you are done.