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1. #Quickbooks desktop payroll cutoff day for efiling how to#
2. #Quickbooks desktop payroll cutoff day for efiling software#

Next, move on to the setup of the earnings, deductions and benefits your company offers. per day, or per week, and enter that into the system setup as well. (Again if you are unsure, contact your accountant.) Also determine how overtime is calculated, i.e. Set up minimum wage information that relates to your business. As for unemployment, each employer is assigned its own unemployment rate, which is provided by the state.Įmployer setup also involves telling the payroll system how many regular hours are in a week and in a day, how long a break is, etc. To determine which workers’ compensation class your company should choose, you should contact your accountant or legal professional who is knowledgeable about your company. It is important to enter your company’s Federal Tax Id number during this step, since that information will be used on the W-2 forms and other tax reports.ĭuring the setup of tax details, you will also set up workers’ compensation class codes.

#Quickbooks desktop payroll cutoff day for efiling how to#

Having decided the best option on how to set up the employer structure, the next step is to choose the federal and state and local taxes for each company. For example, an employee working in two different companies with the same database can receive one W-2 form. Payroll information is accumulated at the employer level. The term “Employer” can also refer to a collection of companies in a system that process payroll but are part of the same payroll processing entity. Some companies who have multiple entities for which to process payroll set up multiple companies for a single employer, though it is much more common for each company to be a separate employer. First, it can refer to a company in a database that processes its own payroll and issues its own payroll reports to tax entities and other parties. The word “Employer” can refer to two different scenarios. Here’s an overview of the steps to set up a brand new system for payroll processing.

While the summary of payroll processing sounds quite simple, there are many behind-the-scenes steps that need to take place, before the actual processing work begins.

#Quickbooks desktop payroll cutoff day for efiling software#

Most companies use either a payroll software system for payroll, or else a third-party payroll processing service. The steps involved in payroll processing typically include gathering employee time information for a selected time period, managing benefits & deductions, and distributing employee pay for that time period. Payroll processing refers to the task of managing the payment of wages by a company to its employees.