Join Bonnie Biafore for an in-depth discussion in this video Defining retirement benefits, part of QuickBooks Payroll Essential Training.
- As you probably know already, there are several types…of retirement plans, each with its own tax advantages.…Sometimes, employers match employee contributions.…The payroll set up interview can handle…all these situations.…In the interview, over in the company set up section,…click employee benefits and then click retirement benefits.…The add new dialog box opens and you'll see checkboxes…for the different types of retirement benefits…you might offer.…For this example, we're going to add a 401K,…which is the most common plan.…
It even says that right here.…Then click next.…The first thing to fill in is the vendor.…That is, the company that takes care…of your 401K plan for you.…For this example, I'm going to use Great Statewide Bank.…I start to type in the name and…as soon as I see the entire name,…I can click the account number box.…Then type in the account number.…Let's say we're going to use a payment frequency of monthly.…Select that option and then click finish.…
Now you'll notice that the interview adds two items.…
- Signing up for Intuit Payroll
- Working with the Setup Wizard
- Entering compensation and benefits items
- Setting up employees
- Defining payroll taxes
- Recording historical payroll data
- Running payroll
- Managing payroll liabilities
Skill Level Intermediate
Q: This course was updated on 12/08/2017. What changed?
A: The following topic was updated: signing up for QuickBooks Payroll.
1. Getting Started
What you need for payroll2m 15s
2. Setting Up Company and Employee Payroll Information
3. Defining Payroll Taxes
4. Finalizing Payroll Setup
5. Running Payroll and Paying Liabilities
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