When you are running a business, it is your responsibility to manage the payroll of your employees properly. With efficient payroll processing, managing employee payments becomes a hassle-free process.
The shifting of this payroll system from your usual framework to QuickBooks is a very common phenomenon these days. In the process, however, people get puzzled in finding out if the payroll was processed on QuickBooks or not.
Normally, for a payroll to be processed properly, it takes less than 15 minutes to several hours given to the number of employees an organization has and the platform used for the purpose. If you do it manually, the process takes even more time.
How to Make Sure Payroll Gets Processed on QuickBooks?
If you are a first-time user processing the payroll on QB and the processing is taking time, it is very obvious for you to panic. Thus, you should know the proper steps to follow to ensure the payments are processed timely and accurately. Here are the 8 steps, if followed, would assure you of the same,
Choose a Payroll System
While there are a lot of options available to you, it is important that you have something installed in your system to take care of the payroll rules and regulations as set by the government. While choosing a payroll system, you will come across three options:
- Manual – Perform everything manually by typing details
- Outsourced – You can have another entity hired to take care of the payroll functions
- Payroll software – Getting software like QuickBooks installed will let you deal with all the basic and advanced payroll services. One thing to make sure is that the software is properly designed in compliance with the state’s payroll taxes and other regulations
Have a Payroll Policy
While creating the policy, ensure reviewing the local labor laws, federal labor laws, and understand the state overtime laws. Along with it, the policy should have pay dates, payroll deduction, and withholdings, the payment method (direct or paper check), etc.
Synchronize employee information based on what amount they are liable to receive. Their deductions are also included within the same. The information, including employees’ personal information, tax filing status, and social security number, when gathered makes it easier for the payroll processing software to make accurate calculations and manage the employees’ pay.
Have a Direct Deposit Setup
Choosing this option will not be free but then the most convenient alternative to choose as it makes things easier for both the parties i.e. the employer and the employees.
Once the time tracking system is established and the employee timesheets are collected, make sure the info is reflected on QuickBooks. Approve the payroll for employees and submit the same. Update the payroll records.
In case you have followed the above-mentioned steps properly but still have a doubt about the payroll processing, you can check with our experts through Live Chat.