Course Code: qp5
You'll learn where to find the information you need to comply with both federal and state payroll requirements, how to apply for an Employer Identification Number (EIN), and how to use government websites to get answers to any payroll questions. You'll even find out how to properly classify workers as employees or independent contractors. Then, identify the differences between Intuit's payroll services so that you can choose the best payroll service for your situation.
Go through a checklist of the information you'll need to gather and enter into your QuickBooks file before creating paychecks for your employees. Then, learn how to avoid common mistakes by carefully entering your employees' information from the paperwork you gathered. You’ll also find out how to create defined fields and enter tax withholding amounts and employee sick and vacation time.
Learn about entering year-to-date payroll information and using the QuickBooks year-to-date wizard to summarize each employee's information. In addition, you'll find out how to summarize and enter the tax liabilities you already paid earlier in the year and how to generate certain payroll reports to check your data entry. Then, discover how to enter and track employee time related to specific projects or jobs in QuickBooks.
Learn how to create a new paycheck for an employee using a Payroll Schedule. We'll also discuss how to create paychecks using information entered on a time activity form, and how to review, correct, and, if necessary, void or delete a paycheck. Then, learn how to e-file liability checks and create printed liability checks that include assessed penalties. You’ll also find out how to use the payroll feature to track and pay other payroll items, such as health insurance premiums and 401(k) contributions.
Get a handle on this crucial responsibility, today you'll learn QuickBooks' easy-to-follow steps for generating and revising Federal Forms 941 and 940. And to make sure your information is accurate, we'll cover how to review your entries and compare them to the payroll data in your QuickBooks company file. Then to help you avoid costly errors, you'll learn how to use reports to review payroll data, identify errors, and even forecast future payroll obligations.
Learn how QuickBooks gives you the ability to generate Forms W-2, W-3 and 1099 and the best methods for reviewing them and making adjustments. Finally, you’ll learn the best ways to avoid and correct common mistakes QuickBooks users make when processing payroll.
Scott Paxton is a Certified Public Accountant and holds master's degrees in business administration and accounting. His background includes experience as a public accountant, a manager in the banking industry, an entrepreneur and a college business instructor. Paxton has also spent much of his career helping small business owners successfully implement and troubleshoot QuickBooks.
There are no prerequisites to take this course.
The instructional materials required for this course are included in enrollment and will be available online.
A new session of each course opens each month, allowing you to enroll whenever your busy schedule permits.
Once a course session starts, two lessons will be released each week for the six-week duration of your course. You will have access to all previously released lessons until the course ends.
The interactive discussion area for each lesson automatically closes two weeks after each lesson is released, so you’re encouraged to complete each lesson within two weeks of its release.
The final exam will be released on the same day as the last lesson. Once the final exam has been released, you will have two weeks plus 10 days (24 days total) to complete the final and finish any remaining lessons in your course. No further extensions can be provided beyond these 10 days.