Location: 7791 NW 46th St. #109, Doral, FL 33166
(This Class is only taught once per year in January)
Table of Contents / Class Curriculum
- Introduction to Payroll and Taxes
-Structure of a Paycheck and Employee Taxes
-Forms and Payment Schedules
-W-2 Employees VS. 1099 Independent Contractor
- Payroll Processing Options
-Manual Payroll Processing (Excel, PDF forms, EFPTS.gov, SSA website…)
-Outsourced Payroll Services (ADP, Paychex, Intuit Full Service Payroll)
-QuickBooks Online Payroll
-QuickBooks Desktop Payroll: Basic, Enhanced, Assisted Payroll.
-Why Choose QuickBooks based payroll?
- Setting Up Payroll
-Gathering Documents (I-9, W-4, New Hire Forms)
-Other Payroll Info to have handy (Pay periods, Health Insurance or other deductions, vacation policy, etc…)
-Getting your State UT number and Rate (Florida)
-Historical Payroll Info
- Entering Timesheets and Prepare to run Payroll
-Printing Blank Timesheets
-Entering time data in single entry or timesheet
- Processing Payroll
-Running Scheduled Payroll
-Entering or adjusting Time data not from Timesheets
-Printing Paychecks and Paystubs
- Other Payroll Functions
-Entering Net paycheck data
-Working with Payroll items
-Review Payroll forms
Concepts to learn on payroll Class:
1. What are the four most commonly associated forms with payroll Tax Reporting?
2. What is the difference between Gross pay and Net pay on a paycheck?
3. What are the forms required to have filled out when hiring a new employee?
4. Why would you choose to use QuickBooks Payroll instead of using outsourced payroll service such as ADP or Paychex?
5. What type of expenses (and/or liabilities) does the employer accrue on every paycheck?
6. Where can you find the percentage or amount to withhold federal taxes for each employee, What is the IRS publication? And, what Factors Typically affect the taxes withheld on paycheck?
7. What are the two types of unemployment taxes? What are the common tax rates? What is the wage limit that the tax is subject to?
8. What are in QuickBooks can you go to, to view all employees? How do you change or edit their information?
9. In QuickBooks, How do you recalculate Gross pay and taxes by inputting a net amount on a paycheck?
10. What are the different frequency of payments for the 941 form? What dollar value typically affects it?
11. How do you request an UT number with the state? What is the Starting rate for most companies?
12. What is the difference between an employee and an independent contractor? What forms do you give them at the end of the year?
13. What is the procedure for preparing 1099’s via QuickBooks?
14. When is the 941 form, 940 form, UCT-6 form, and W-2 due?