How To Run Payroll Schedules In QuickBooks

As a business owner you are in the driver’s seat when it comes to setting up the payroll schedule for your employees. You can issue payroll on a weekly, bi-weekly, semi-monthly (ex. the 15th and the 30th), or even on a monthly basis. You can even have different payroll schedules for different employees (ex. salaried v. hourly employees). But it will be important to your employees to know when to expect their paycheck, and to receive it on time. Fortunately, with QuickBooks payroll schedules, this is easy to execute.

If in fact your employees are paid at different intervals, or if some are paid via direct deposit while others receive physical checks, you can streamline the need to classify each employee’s pay date and/or method by creating different payroll schedules and assigning the appropriate employees to the appropriate schedule type. How do you do this? Just follow these simple steps in QuickBooks.

  1. Go to the Home page, and click the “Pay Employees” icon. The Enter Payroll Information window opens, allowing you can to set up the pay period, check date, and which employees to pay.
  2. Select “Employees | Add Or Edit Payroll Schedules.” When the Payroll Schedule List window opens, create a new payroll schedule, and give it a name. Make sure to use descriptive names, so you know what each payroll schedule stands for. For example, maybe you name one schedule “bi-weekly, direct deposit employees”
  3. Proceed to fill in the rest of requested information for this payroll schedule, including: pay period frequency, the next pay period end date, and the next paycheck date.

Keep in mind that for tax purposes, the paycheck date is all that will be relevant. Your 941/W-2 forms use only the paycheck dates. The rest of the information in your payroll schedules is for your convenience in facilitating payroll operations.

Comments (0) | Trackbacks (0) | Permalink
Post a comment or leave a trackback: Trackback URL.

Post a Comment

Your email is never published nor shared. Required fields are marked *