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zyv
October 13, 2021
Question

Employee Entry At The Beginning

  • October 13, 2021
  • 1 reply
  • 0 views

I am setting up Quickbooks for the first time and I am having a very difficult time entering all of the past payments and amounts for each employee. In the end, the program says that the employee and company total doesn't match up. Also, when sometimes when I do add what is directly on the pay stub, it is saying the percentages for the Social and Medical Taxes are incorrect. How do I fix this issue? Also, I have read that every employee needs to be added even if they have been terminated. We opened in January and we have gone through so many people; does this really need to be done and why? I apologize for sounding stupid, but this is our first business and all of this is so new. We were outsourcing our payroll but decided to give it a try and do it in-house in order to save some money.

1 reply

JasroV
JasroV
October 13, 2021

Thanks for using QuickBooks Online (QBO), @zyv.

 

Rest assured I'm here to help and ensure you've set up your payroll correctly. 

 

You can enter a prior payroll in your QBO account to record your employees' past pay information. This way, the system will automatically calculate the taxes base on the details you've entered. I'll show you how:

 

  1. Go to the Payroll menu.
  2. Then select Overview.
  3. You will see tasks you need to complete on your TO DO LIST. When you're done adding your business info, it's time to tell us about your team. 
  4. Select Let's go to start adding your employees.
  5. Enter your employees' info. After you complete the questions, select Done. 
  6. Select Add an employee to add the rest of your employees.
  7. Complete the onscreen steps. 

 

You can also use this link for more details about the process: Set up a prior payroll for QuickBooks Online Payroll.

 

Also, QuickBooks follows the 6.2% for Social Security and 1.45% for Medicare. Ensure to enter the data accurately so the system calculates your Social and Medical Tax percentage correctly. 

 

If you're sure you've entered the data correctly and the issue persists, I suggest contacting our support team. One of our agents can look into your account and verify the settings for you. Ensure to check their support hours to know when agents are available.

 

Additionally, you won't have to add your terminated employees as long as they don't have any wages to enter this year. If they have, then you'll want to add them to your account.

 

Furthermore, I'd recommend working with your accountant for additional guidance in recording this. This way, we can prevent messing up your records. If you don't have one, you can utilize our ProAdvisor page and look for one from there.

 

When everything is all set, feel free to utilize these articles for guidance in supervising your QBO and payroll seamlessly:

 

 

Need more help entering your payroll? You can always count on me to assist you. Just leave the details in your reply and I'll sprint back into action. Keep safe and have a dazzling day ahead!

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