How to Set up QuickBooks Payroll Enhanced?
QuickBooks always fulfill the user’s needs and provides many services as per the account updates. The QuickBooks Payroll Enhanced is the best provided by Intuit. This Payroll service helps the owners pay the team/employees accurately and accurately. By this, employees can get their wages and salaries printed with proper invoices and paychecks. To start the Enhanced Payroll, you have to set it up first. This blog will deliver the step-by-step procedure for setting the Payroll Enhanced in QuickBooks. You will also get to learn about its features. Here we go.
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Features of QuickBooks Payroll Enhanced?
QuickBooks provides so many features to its users, which QuickBooks Desktop Enhanced Payroll also provides. It has some exciting advantages, which are the following:
- For the Employees’ salaries, you can easily print Pay Cards, Paychecks, and Quickbooks Direct Deposit.
- Provides easy tax filing and payments.
- Effortless Online payments.
- Simple integration with QuickBooks Desktop program.
- Simplified Direct Deposit.
- Provides easy reporting and monitoring of taxes.
- QuickBooks Payroll Enhanced can be customized according to the user’s needs.
- The reports can be saved in different formats, such as Word, PDF, and Excel.
- You can easily view the Local, State, and Federal reports with QuickBooks enhanced payroll.
After knowing about the payroll-enhanced feature, let’s proceed to set it up.
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How to Set Up QuickBooks Payroll Enhanced?
You have to complete some tasks to start the enhanced payroll for QuickBooks. Here is the step-by-step procedure for setting it up:
Step 1: Activate Your Payroll Subscription
When you purchase the QuickBooks Payroll Enhanced annual subscription, you have to activate it. The activation steps may differ as it depends you purchase it from the retail store or online. We will provide you with the steps for both.
After purchasing the QuickBooks Payroll, you have to follow the steps to enter the payroll service key and then activate your monthly payroll subscription. You get this key at the time of purchase. If you didn’t receive the key, contact QuickBooks Desktop Payroll Support and ask them. After getting the key, enter the service in both conditions.
When Purchase Online or via Phone
When you purchased the QuickBooks Payroll Enhanced, Basic or Advanced online, you received the 16-digit service key in your email. So to start the payroll features, you have to enter this key in QuickBooks. If, somehow, you are unable to find the key in your inbox, try to find it in the spam or junk folders. Now follow the given steps:
Enter Your Service Key:
- Firstly, open your QuickBooks Desktop company file.
- Secondly, choose the Employees and then Payroll.
- After that, choose Enter Payroll Service Key. If you have another subscription to payroll, choose the Manage Payroll Service ke
- Now, click on Add (or Edit if the payroll service is listed already, Remove the payroll service key before going with the next step).
- In the next step, enter your Service Key.
- Afterward, click on Next, followed by Finish.
- When you get the Payroll Update notification, click on OK.
- Here, you have to verify your payroll service status, which has to be Active.
- Lastly, click on OK.
When Purchase From Retail Store
Generally, to activate the QuickBooks Payroll Enhanced subscription purchased from the retail store, you must enter the service key you get. The following are the steps:
- First, open the QuickBooks Desktop Company file.
- Then, click on Employees and choose Payroll
- Now, click on Install Payroll from Bo
- After that, on the Payroll License and Product information page, provide the info. To get the license number, bring up the colored sticker on the folder present in the box. To find the product number, follow the directions from the folder. You will find a 16-digit service key.
- Click on Continue.
- Now, click on Enter Payroll Service key.
- Enter the Service key and click on Next and then lastly, click on Finish.
Step 2: Complete Payroll Tasks
In this section of QuickBooks Payroll Enhanced, you have to add your employees and set up your state and federal payroll taxes. Also, enter any tax payments and paychecks if already paid by you this year.
Filling in the payroll information in QuickBooks takes time. But with the payroll enhanced setup, you will get the design that allows you to add the information according to you and then save them. Let’s add the following information:
Here you have to add the employees in QuickBooks Payroll Enhanced. You can also send an invitation to your employees and ask them to enter their info on their own with the free QuickBooks Workspace product. The following information you need for each employee:
- Hire Date
- Birth Date
- Pay Date
- Completed Form W-4.
- Any Paychecks deductions.
- Bank account for direct deposit (if applicable)
- Vacation, Sick, Balance, and PTO accrual rates (if applicable)
Set Up Company (Deductions, PTO, Pay Items)
In the next step of QuickBooks Payroll Enhanced, you have to choose from a preset list of insurance benefits, pay items, retirement deductions, or setup customer items. If you provided the employees and paid sick or vacation off, add them.
After setting up the time off and payroll items, use the Assign to Employees button and apply the items to various employees in one go.
Set Up Taxes
Here, you have to add your State and Federal payroll tax info. You also have the option to pay your taxes online or electronically. To add, you will require the following:
- Federal Employer Identification Number (FEIN).
- State Unemployment/Withholding account numbers.
- State and Federal deposit frequencies.
- State tax rates: State disability, Unemployment, paid family leave, surcharges, etc.
Enter Pay History
If you paid your employees in the current year, you have to add those paychecks and any tax payments you made. This information is contained in the employees’ W-2s at the completion of the year. If you haven’t paid the employees yet in the current year, you don’t require to accomplish this step. Now, the following you will need.
- Each employee’s payroll and pay stubs report was paid this year.
- Tax payment receipts or tax liability reports.
Review and Finalize
In this step of QuickBooks Payroll Enhanced, if you entered pay history, then you will have to provide the state and federal tax filing information for the closed quarters. After that, QuickBooks will examine all the pay history details and review for errors. Additionally, this will make sure that your employees’ W-2s are valid at the year-end. The following information you will need:
- Quarterly State and Federal payroll tax forms (941, State Unemployment Insurance, etc.) for the close quarters
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QuickBooks Payroll Enhanced is the best feature of QuickBooks Desktop. It helps in paying the employee and state and federal taxes. With this guide, we explain the steps to set it up easily. Moreover, while filing the employee or tax information, be sure you are entering the correct data. We are always available to help you. If you want Experts to help learn more about the setup, you can Email or use Live Chat support.