A Step-By-Step Guide To Set Up Manual Payroll In QuickBooks

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How To Easily Set Up Manual Payroll In QuickBooks

There are a series of steps that you must understand to implement this process successfully. Make sure to execute all the steps given below carefully and correctly. Execute the measures explained below to initiate the process:

1. To create salary components of Payroll, you can first go to +NEW.

2. The next step involves choosing Journal Entry.

3. Enter the date on which you wish to book the salary expense.

4. Choose Payment Accounts from the Account dropdown menu. This step can include Basic Pay, HRA, Dearness Allowance etc.

5. Choose the deductions accounts. This includes Provident Fund, TDS Payable and more. Enter the amounts in the credit card column against them.

6. Finally, choose Payroll Liabilities accounts from the Account dropdown. After that, enter the difference of payments and deductions amount in the credit card column against that.

7. You can enter the memo for this journal entry.

8. Now, finally, click on Save and Close.

Be careful with the steps that are given above. The next set of steps will show you the procedure that is required when you have to make salary payment in the manual payroll. Go through the measures given below to complete this procedure.

Salary Payment In The Manual Payroll

You need to follow some particular additional steps if you wish to pay your employees. To make actual payments of the salary to the employees, implement the steps given below. Follow the steps carefully if you genuinely desire to resolve this error:

1. Click on Transactions available in the Left Menu. Now, click on Expenses.

2. Click on the Create New button and now click on Cheque.

3. You can now enter the cheque number if it’s required. Choose a date, and then you can enter the amount.

4. From the Accounts dropdown menu, you can choose Out Of Scope Of Tax.

5. From the Account dropdown, you can choose the Payroll Liability account and then enter an amount. Please remember that the amount entered must be the same as the amount that is entered in step 3 of this process.

6. Finally, click on Save And Close. With this, your process gets completed.

Conclusion

The steps to set up manual payroll in QuickBooks is easy and convenient, provided you have a direction to work in. It’s an important process that should be implemented with precision. Make sure to be aware of the sample list of accounts that needs to be created in QuickBooks. With this in mind, you can implement this procedure on your own if you make sure to implement this process correctly.