QuickBooks, by default, offers a single account called Payroll Expenses in your Chart of Accounts and all of the pre-programmed Payroll Items for wages and taxes are assigned to that one single account. Continue reading
Spending payroll tax money for other purposes is considered to be willful failure to pay taxes and can lead to huge penalties and interest. Continue reading
Setting up and tracking Union Fringe Benefits in QuickBooks can be a fairly straightforward task, Union Fringes are just a specified hourly dollar amount that the company pays to the Union on behalf of the employee. Continue reading
How much does Joe Smith REALLY cost per hour? Most business owners think of the payroll costs of employees in terms of their hourly cost. Continue reading
During 2011 employees will see a 2% payroll tax cut, reducing their Social Security (FICA) tax withholding rate from 6.2% to 4.2% of wages paid. If you are using a QuickBooks Payroll Subscription - DON'T PANIC. Continue reading
Many times I’ve seen employees bring in receipts or expense reports and the payroll clerk has added those reimbursements into the normal employee paycheck. Don’t let yourself get caught in this situation Continue reading
