Managing Payroll And Employee Benefits in QuickBooks Online
How Do You Manage Payroll And Employee Benefits In QuickBooks Online?
To manage payroll and employee benefits in QuickBooks Online, you can use the payroll feature or a third-party payroll service that integrates with QuickBooks Online.
Here are the steps to set up and run payroll in QuickBooks Online:
Set up payroll in QuickBooks Online:
Go to the Gear icon and select Payroll Settings or click Payroll on the side bar.
Follow the on-screen instructions to set up your company's payroll information, including employee tax rates and payroll schedules.
Add your employees and enter their payroll information, including their pay rate and deductions.
Run payroll in QuickBooks Online:
Go to the Workers menu and select Payroll.
Select the pay period for which you want to run payroll.
Review and approve the payroll summary.
Select Pay Employees.
Review and approve the payroll summary and select Pay Now.
To manage employee benefits in QuickBooks Online, you can track employee benefit expenses as part of your payroll process. Here are the steps to do this:
Set up employee benefit expenses in QuickBooks Online:
Go to the Lists menu and select Payroll Item List.
Click the Payroll Item button and select New.
Select the type of payroll item you want to create (e.g., Health Insurance, Retirement Plan, etc.).
Enter the details of the benefit, including the name and expense account.
Track employee benefit expenses in QuickBooks Online:
Go to the Workers menu and select Employees.
Select the employee for whom you want to track benefits.
In the Employee Information section, click the Edit button next to the Benefits and Deductions heading.
Add the benefit payroll items you created to the employee's record.
If you use a third-party payroll service that integrates with QuickBooks Online, you can manage payroll and employee benefits directly through the payroll service. Check with the payroll service to see what features and options are available.
Learn how to manage payroll and employee benefits in QuickBooks Online
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