Employee Reimbursements-Accountable vs Non-Accountable Plans

Employee Reimbursements-Accountable vs Non-Accountable Plans

Be A Better Bookkeeper, From Our Guest Bloggers, IRS Information, Payroll Tips
As a tax preparer and payroll provider for my clients I always recommend, whenever possible, that they keep employee reimbursements’ out of payroll. The IRS even suggest this in Publication 583 (https://www.irs.gov/pub/irs-pdf/p583.pdf).  If it is your habit to include reimbursed expenses in employee paychecks and  your payroll is ever audited, be it from the IRS or the State, I am sure you and your employer could be very unhappy. In a perfect world, all expenses would be paid with company checks, or credit cards, leaving a clear path for accounting to identify the source and business reason for each expense. However, we do not live in a perfect world, and it is oftentimes necessary for employees to pay for these expenses. Reimbursements are not so cut and dry. If you…
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Payroll Recordkeeping – More Than Just Getting Employees Paid On Time

Payroll Recordkeeping – More Than Just Getting Employees Paid On Time

Be A Better Bookkeeper, Payroll Tips
There is more to payroll recordkeeping than just making sure that your employees are paid the right wage for the type of work they are performing and getting their paychecks out the door on time. Are your payroll records accurate and up-to-date?  They need to be - because inaccurate payroll records can cost employers BIG bucks! Most employers and bookkeepers have a tendency to think that accurate payroll record keeping involves little more than being able to pull up a Payroll Summary for a prior period in QuickBooks, if the State or Federal Department of Labor asks for it. Sure, a Payroll Summary in QuickBooks is a handy thing to be able to create with just a couple of mouse clicks – but there is so much more supporting documentation…
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QuickBooks 2013 Revamped Employee Record

QuickBooks 2013 Revamped Employee Record

Payroll Tips, QuickBooks 2013 - What's New?
The Employee Record has been revamped in QuickBooks 2013 and that is one of the new changes in design that I really like!  For years we've had to navigate through the employee record through both tabs and drop down menus and in my opinion the overhaul was long overdue! For years the typical instructions for navigating through an employee record in order to change a rate of pay went something like this: Go to the Employee Center, in the employee list find this employee, double-click or click the Edit Employee button, now grab that drop down menu and choose Payroll and Compensation Info - no, no, no there is a drop down menu just above the tabs that say Personal, Address and Contact, and Additional Info.  It was quite a…
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How To Report an Owner/Employee on Certified Payroll

How To Report an Owner/Employee on Certified Payroll

Certified Payroll/Prevailing Wage
Certified Payroll is complex and so are the reporting requirements for owner/employees.  See this question submitted by a reader. I am unsure of how to report the owner of the company on the certified payroll report.  He is a union member but not paid union benefits.  He is paid the prevailing union wage in our area.  He is paid thru QuickBooks payroll & the appropriate payroll taxes are paid. The accountant suggests we do not report the fringe benefits on the certified payroll because he does not receive union benefits as he is the owner & does not have union benefits. I am confused as to how to report his wages.  Must I make a 'separate' payment to him of what the total prevailing wage for a union worker would…
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Paycheck/Payroll Frequencies by State

Certified Payroll/Prevailing Wage, Payroll Tips
Minimum payroll frequencies are determined by each state and can be quite confusing.  I'm often asked "How often do I have to pay my employees" during a Certified Payroll Training Webinar.  State minimum paycheck frequencies are shown below - this information comes directly from the U.S. Department of Labor's website. It's difficult to thoroughly cover the requirements of all 50 states in a 2 hour webinar, but it has crossed my mind that a series of blog posts on the differences between what State Laws are for how often payroll must be generated and how that can effect the generation of a certified payroll report would be a good thing to do.  While I could have simply started this series and talked about the complexities of generating certified payroll reports…
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Bookkeeping/Accounting Tasks and Employee New Hire Packet

Be A Better Bookkeeper, Payroll Tips
Keeping track of bookkeeping/accounting tasks and the information that is required when you hire a new employee can be pretty overwhelming for a business owner or bookkeeper.  In the normal rush of day-to-day activities; sometimes important items can get overlooked and come back to bite you later. Welcome to Tuesday Training! Tuesday Training is a new feature here on the QuickBooks for Contractors blog.  While everyday focuses on training of one sort or another, Tuesday’s are dedicated to more in-depth training. We’ll teach you the things you need to know about using QuickBooks, that you won’t find in the QuickBooks Help file, in order to successfully run your construction business and obtain accurate job costing reports; from eBooks, live webinars, and recorded training sessions. You’ll find high-quality (budget friendly) training…
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Employee Education & Training – Are You Making the Investment?

"Maad" Rants & Other Stuff, Be A Better Bookkeeper
Employee education and training is an investment that every business owner should make.  As a business owner, your company policies should include employee education and training requirements. Whether you are a business owner or an employee, education and training is part of your daily life - like it or not.   We need it in order to deal with new complexities that we face at work, for career advancement, and to obtain certification. Being a business owner myself, I find myself learning new things on a daily basis in order to make my job easier and more efficient.  For example, right now as I prepare this blog post,  I'm working with a new piece of software called Dragon Naturally Speaking.  Dragon allows me to dictate my blog post instead of physically…
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