QuickBooks Payroll - QuickBooks Pro Desktop 2019

Mastering Payroll in QuickBooks Desktop Pro 2019

This comprehensive course provides a detailed understanding of the payroll process for small businesses using QuickBooks Desktop Pro 2019. Ideal for bookkeepers, accountants, and business owners, this training equips you with the knowledge to confidently set up payroll, process payroll, and effectively troubleshoot payroll issues.

QuickBooks Desktop Pro 2019 Payroll Setup:

• Learn the initial payroll setup process within QuickBooks Desktop Pro 2019, covering both the paid and free manual versions.
• Navigate the payroll screens and understand the key data entry points.

Payroll Legislation & Forms:

• Understand the payroll legislation impacting your calculations within QuickBooks Pro Desktop 2019.
• Identify and generate essential payroll forms from QuickBooks, ensuring compliance.

Employee Data & Federal Taxes:

• Learn how to accurately enter new employees into QuickBooks Desktop Pro 2019, including understanding data sources like Form W-4.
• Master Federal Income Tax (FIT) calculations within QuickBooks Pro Desktop 2019:
  • Understand how FIT is calculated.
  • Identify the data required for accurate FIT calculations.
  • Learn how to enter FIT data into the system.

FICA & Unemployment Taxes:

• Explore the Federal Income Contributions Act (FICA) and its components (Social Security and Medicare).
• Calculate Social Security and understand QuickBooks' role in these calculations.
• Calculate Medicare and learn how QuickBooks assists with Medicare calculations during payroll processing.
• Understand Federal Unemployment (FUTA) and its relationship to state unemployment (SUTA).

Employer & Employee Taxes:

• Differentiate between employee taxes and employer taxes.
• Learn to accurately calculate and record employer taxes within QuickBooks Pro Desktop 2019.

Payroll Reporting & Financial Impact:

• Understand payroll journal entries and how they impact your accounting records.
• Analyze how payroll data populates QuickBooks reports and financial statements, including the profit and loss and balance sheet.
• Create and utilize a payroll register for accurate record-keeping.
• Explore and analyze various payroll reports generated from QuickBooks Desktop Pro 2019.

Deductions & Retirement Plans:

• Manage both mandatory and voluntary deductions within the QuickBooks Pro Desktop 2019 system.
• Learn about retirement plan options and how to enter them into QuickBooks.
• Understand how retirement plans affect net income and payroll taxes.

Comprehensive Payroll Problems:

• Two practical, comprehensive problems provide hands-on experience:
  • Problem 1: Processing payroll for a single employee using the paid version of QuickBooks Desktop Pro 2019.
  • Problem 2: Processing payroll for a single employee using the free manual version, with calculations compared to Excel for deeper understanding.
• The problems progressively increase in complexity, incorporating more benefits and payroll details over time.

Troubleshooting & Best Practices:

• Gain a deeper understanding of the calculations performed by QuickBooks Desktop Pro 2019, enabling you to spot and troubleshoot payroll problems effectively.