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Chapter 12

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Checklists

Three checklists XE "checklists:payroll"  are included, to help you get organized for starting payroll.  The employee record sheet is included to carry information in a convenient form.  QuickBooks 5 will print an employee record (Lists|Employees|Employee|Print List) with most of this information, but not all. 

These checklists represent the real work of starting payroll.  With the lists completed, the work at the computer should go quickly. Descriptions follow the checklists.

Company Checklist:

Company information, including federal and state employer ID numbers, public company name and legal company name.

Circular E (IRS Publication 15,) Employers Tax Guide (or Circular A, Publication 51, for farms)

Special company contribution rates or taxes

State unemployment insurance (SUI) rates (employer/employee) and maximum

Federal unemployment insurance (FUTA), including possible SUI credit

State Disability Insurance (SDI) (employer/employee) rates and maximum

Company contributions to health plans, insurance, etc.

Employee deductions, common to all employees, or unique to some.

Employees, all the basic information, including rates of pay

Employee unique deductions:  401k, prepaid health, etc., and whether they reduce income subject to legal deductions, such as Social Security

YTD company payroll totals:  FICA, MCARE, company paid expenses

YTD totals for each employee:  gross pay and each deduction or contribution

YTD hours worked for each employee (if this is to be tracked)

Willingness to take on something new and determination to make it work.

 

Payroll Item  _______________________________  Type _______________  

                                                Name                                 Addition, Deduction, or Employer Contribution

            Based on quantity? (Y/N) ___  of ______________________________

            Addition to/Deduction from:  ___ Net pay    ___ Gross pay

            Defaults (unless changed for individual employee)

                         Amount or percentage  _________    Annual limit $ ___________

            Addition or contribution is included in pay subject to,

                  or deduction is before calculating  (check all that apply):

                                    ___ FWH                                  ___ Social Security (Comp)

                                    ___ SWH                                  ___ Social Security (Employee)

                                    ___ LWH                                  ___ Medicare (Company)

                                    ___ FUTA                                 ___ Medicare (Employee)

                                    ___ State Unemployment Insurance

                                    ___ State Disability Insurance

            Expense Account (company contributions)  __________________________

            W-2 Tracking:              __ None                                   __ Other moving expenses

                 (check one)             __ Compensation                     __ 401(k)

                                                __ Non-taxable sick pay           __ 403(b)

                                                __ Other                                  __ SEP 408(k)(6)

                                                __ Reported tips                       __ Elective 457(b)

                                                __ Advance EIC payment         __ 501(c)(18)(D)

                                                __ Dependent Care                  __ Local income tax

                                                __ SEC 457 Distribution           __ Second local income tax

                                                __ Non-qual plan distrib           __ Qualified moving expenses

                                                __ Fringe benefits

 

FromSmall Business Accounting with QuickBooks, by Harry Potto1.  May be copied by those purchasing the book.  QuickBooks is a registered trademark of Intuit, Inc.

Employee Record

For QuickBooks Payroll

Name ________________________________________     Phone ________________

            (in list of employees; first or last name first, for all employees)

Name ________________________________________      Alt Phone ______________

            (as it will be printed on pay checks)

Address ______________________________________      SSN ______-____-_______

            _______________________________________      Date Hired ____/____/____

            _______________________________________      Released    ____/____/____

New Address __________________________________

            _______________________________________

            _______________________________________

Payroll Item:  Salary, or principal hourly payroll item, and payroll expense account in that item, and overtime or other secondary payroll item.

Item:  _____________Account __________________________

Item:  _____________Account __________________________

Base Pay Rate:   ________________   _________________  ___________________

As of (date)         _____/_____/_____   _____/_____/_____    _____/_____/_____

Overtime Item    ________________  Account __________________________

Overtime Rate:   ________________   _________________  ___________________

As of (date)         _____/_____/_____   _____/_____/_____    _____/_____/_____

Addition (Add)     Deduction (Ded)    Commission  (Com)    Company Contribution (CC)

Type _____   Item _____________________  Amount (or %) _________________  Effective _________________

Type _____   Item _____________________  Amount (or %) _________________  Effective _________________

Type _____   Item _____________________  Amount (or %) _________________  Effective _________________

Type _____   Item _____________________  Amount (or %) _________________  Effective _________________

FromSmall Business Accounting with QuickBooks.  May be copied by those purchasing the book.  QuickBooks is a registered trademark of Intuit, Inc.

Employee Record

(continuation)

Federal Taxes:   Form W-4 signed _____/_____/_____          _____/_____/_____

Withhold     z  FWH     z  FUTA    z  Social Security     z  Medicare

Filing Status  (M/S/MFJ/HH)  __________ ____________  ______________

Allowances    _______ _______  _______  Extra W/H _______   ________   ________

State Taxes:   State Form signed  _____/_____/_____             _____/_____/_____

State:  _____ _____  _____   Status _______  _______  _______  _______   

Allowances    _______ _______  _______  Extra W/H _______   ________   ________

Misc  entry _______  _______  _______ _______

SUI State   _______  _______ _______  _______

Sick Pay:     Initial hours available  ______   Accrues z First of Year  z Each pay period

Hours accrued per accrual period   ______  _____  Max Hours accrued ______ _______

z  Reset each year

Sick Pay:     Initial hours available  ______   Accrues z First of Year  z Each pay period

Hours accrued per accrual period   ______  _____  Max Hours accrued ______ _______

z  Reset each year

Custom Field Information or  Notes.

FromSmall Business Accounting with QuickBooks.  May be copied by those purchasing the book.  QuickBooks is a registered trademark of Intuit, Inc.

The check list is designed as a foundation for entering all of this information into QuickBooks, and is intended to be copied.  When all the information about these items has been gathered into the check list, setting up the payroll items should be a matter of data entry.

Canadian employers long asked why there is no payroll system for them.  QuickBooks 4.5, a Canadian version with Canadian Payroll, was released as this book was well along in writing.   The choice was made between delaying the book, or excluding version 4.5.  That version is not covered, the decision being driven by the fact that a book benefits no one (reader, publisher, or author) until it is in print.

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Last modified: May 21, 2004