Summary

We have met our goal for this chapter of showing you how to manage your payroll from start to finish. To recap, you now know what information is required to set up employees and how to set them up. We covered how to enter the hours for each pay period and submit payroll for processing. You know what payroll reports are available so that you can gain insight into your total payroll costs, and finally, we discussed the importance of filing payroll tax forms and submitting payroll tax payments on time. You are now equipped to add employees, run your payroll, run payroll reports, and use this information to file your payroll tax returns. Be sure to consult with a CPA, HR professional, or a payroll expert to ensure payroll is set up properly. Otherwise, you run the risk of encountering errors, which could result in steep penalties.

In the next chapter, we will cover how to manage 1099 contractors. While these folks are not employees, you will need to set them up in QuickBooks...