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clg3
March 17, 2020
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Scheduling several payrolls in advance

  • March 17, 2020
  • 1 reply
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Hello, I have Q.B. Pro 2018 Desktop with Enhanced Payroll and would like to schedule three payrolls in advance (to cover for extended time out of the office).  I already know the quantity of hours for ea. employee, so that is not an issue, but my questions are:

 

  • Can I simply go to "Start Scheduled Payroll", and proceed to enter the hours as usual for the pay date shown?  And once I finish entering that payroll's data, I assume the "Start Scheduled Payroll" date will advance to the next pay period, and likewise for the 3rd payroll.  Or, are there any issues that I could encounter by doing these 3 payrolls in succession?  It would amount to a month's pay dates all done in advance. 
  • Not sure if the federal and state taxes can be submitted in advance - since the pay dates would all be in the future.  Or, maybe it would be best to wait on this part until I return.  

Thank you!

 

Best answer by john-pero

You are certainly on the right track. As long as you print and deliver paper checks there is no problem at all with running one scheduled payroll and the next and the next as each schedule date will move up. Just watch the actual check print date so that they are not all at once (unless your bank account can handle it)

 

If you use direct deposit it might get sticky as there is a submission you must make and I am unsure if you can do that so far in advance.

 

As far as taxes, there is no penalty for paying early but there sure is for paying late. Each payroll will add to tax liability with due dates based on future payroll date. QB tells you how much each is and you can pay them individually in eftps.gov or all in one payment IF they are for the same quarter. Do not mix tax payment for payroll of 4/3 with payroll from 3/20 and 3/27

1 reply

john-pero
john-peroAnswer
March 17, 2020

You are certainly on the right track. As long as you print and deliver paper checks there is no problem at all with running one scheduled payroll and the next and the next as each schedule date will move up. Just watch the actual check print date so that they are not all at once (unless your bank account can handle it)

 

If you use direct deposit it might get sticky as there is a submission you must make and I am unsure if you can do that so far in advance.

 

As far as taxes, there is no penalty for paying early but there sure is for paying late. Each payroll will add to tax liability with due dates based on future payroll date. QB tells you how much each is and you can pay them individually in eftps.gov or all in one payment IF they are for the same quarter. Do not mix tax payment for payroll of 4/3 with payroll from 3/20 and 3/27

    john-pero
    john-pero
    March 17, 2020

    The only possible downside of running payroll so far in advance is if there were to be a major payroll update that significantly changed what and how we deduct but I do not see that coming and minor fluctuations in FWT are not a big deal over a short time period

    C
    clg3Author
    March 17, 2020

    That's a very good point - about any possible payroll updates that could come up and also about keeping the tax payments to the same quarter (these 3 would all be in April).   

     

    So, it looks like my biggest concern may be missing potential payroll updates.   I'm not sure how I would correct for that on future payrolls.

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