Have you ever wished there was a payroll checklist that had everything you needed to get going with a QuickBooks outsourced payroll solution? Well here is it! I get a lot of questions regarding the onboarding process for clients and customers when they make the decision to switch to a QuickBooks outsourced payroll solution. So, I created this payroll checklist to share with you. It covers all the information that you, or your clients, will need to get started.
Gather the following items before you start setting up payroll. You’ll need this information to quickly and accurately set up your account and avoid problems later when you start using QuickBooks Payroll.
1. Company Information
Even though you’ve already set up your company file in QuickBooks, the payroll setup interview requires the following information about your company:
- Company bank account information; only required if you’ll be paying employees by direct deposit or e‐paying taxes (use a voided check, not a deposit slip, of the bank account you’ll use to pay employees)
- Types of compensation you give to your employees, such as hourly wages, salaried wages, bonuses, commissions, and tips
- Types of benefits you offer your employees, such as health insurance, dental insurance, 401k retirement plan, vacation/sick leave, Flexible Spending Account (FSA)
- Types of other additions and deductions you provide for your employees, such as cash advances, mileage reimbursements, union dues, and wage garnishments
2. Employee Information
For each employee who worked for you this calendar year (including active, inactive and terminated employees), you’ll need:
- Employee’s completed W‐4 form
- Pay rate (hourly, salary, commission, etc.)
- Paycheck deductions (401(k), insurance, garnishments, etc.)
- Sick/vacation hours balance (if applicable)
- Direct deposit information (use a voided check, not deposit slip, of the employee’s bank account)
- Hire date
- Termination date (if applicable)
3. Tax Information
The following payroll tax information is available from your state or local tax agency.
- State unemployment insurance (SUI) contribution rate – Contact state unemployment insurance office to obtain your rate
- State agency ID number(s) – For unemployment and/or state tax withholding; contact the appropriate state agency directly if you do not have an ID number for them
- State assessment, surcharge, administrative or training tax rates (if applicable)
- Copies of both state and federal tax forms for each closed quarter this year
- Tax deposits/filing schedule (monthly or quarterly)
4. Payroll History Information
If you are starting payroll in:
- The 1st quarter of the calendar year (January 1 through March 31) – Payroll summaries for each paycheck issued during the quarter
- The 2nd, 3rd or 4th quarter of the calendar year (April 1 through December 31) – For each closed quarter: payroll summaries by quarter
- For the current quarter: payroll summaries by paycheck
Please let me know if you have questions or need help in the process of onboarding your next payroll client.
