The Basics: Assisted QuickBooks Payroll

The end of the year is an extremely busy time for small business owners. To ensure your payroll processing goes as smoothly as possible, we’ve compiled this handy list of six key year-end payroll tasks for Assisted Payroll subscribers.

Check these off your list, and you’ll be prepared for another smooth year of payroll processing in 2008.

Step 1: Confirm that the names and Social Security numbers match the SSA records. Employee information Filing incorrect or incomplete employee information creates problems for both employers and employees. Incorrect information can lead to employees not receiving proper credit for earnings, which can affect future eligibility and/or amounts paid through Social Security programs. In an effort to prevent the problems created by incorrect reporting, the IRS and the Social Security Administration (SSA) have begun a campaign to eliminate mismatched names and Social Security numbers reported on W-2 forms. The SSA will send letters to companies that have a large number of mismatches. If you receive such a letter, please contact a payroll service representative for further assistance. To minimize errors, employers can verify that an employee's name and Social Security number match the SSA's records. To do this, employers can take advantage of the SSA's Social Security Number Verification Service (SSNVS). This service allows employers to verify an employee's name and Social Security number with the SSA. You can verify up to 10 names and SSNs (per screen) online and receive immediate results. Visit the Social Security Administration's EVS Web site for more information about EVS. http://www.ssa.gov/employer/ssnv.htm Ensure that data that appears on your employees W-2s is correct. Names and Addresses If the name and/or address on the W-2 are incorrect, you can fix it in QuickBooks. To change employee information in QuickBooks: Go to the Employee Center Click the Employees tab Double-click on the name of the employee to access the Personal Info tab Edit the name, or address, as appropriate Click OK to save your changes Social Security Numbers If the social security number and/or payroll amounts on the W-2 are incorrect, you can request a correction or amendment. To request a correction or amendment to change employee information prior to 2007 filling go to: https://secure.payroll.com/support/w2/verification.html Company Legal Information Company legal information changes generally require a signature from the primary principal of your company. Submitting your request will notify our Payroll Service team to expect one of the request forms below: https://secure.payroll.com/support/w2/verification.html Legal Name Change: Follow the legal name change instructions on the QuickBooks® Assisted Payroll support site found at this link, legal name change. Legal Address Change: Follow the legal address change instructions on the QuickBooks® Assisted Payroll support site at this link, legal address change. EIN Change: For EIN changes follow the request for entity change packet on the QuickBooks® Assisted Payroll support site at this link, entity change request. Step 2: Log in to the Payroll Tax Center to View Tax Returns and W2s Review Tax forms, annual tax form delivery, etc. The Payroll Tax Center is your one stop shop for all of the forms Assisted Payroll is filing for you. On January 10, 2008, you can log in to view your employee W2s and on February 5, 2008, all of your year end returns will be available for download, emailing and printing. To log into the Payroll Tax Center, follow these instructions. For QuickBooks 2006 and later: From the Employees menu, select Payroll Center, then the View/Download Tax Forms or View/Print Forms & W-2s link near the bottom of the page. Enter your payroll PIN when prompted. For QuickBooks 2005: From the Employees menu, select Payroll Services, then View/Change Payroll Service Account Information. Enter your payroll PIN when prompted. Select the View/Download Tax Forms link near the bottom of the page. FAQs Payroll Tax Center Support How do I access the Payroll Tax Center? When are copies of my filed payroll tax forms available? How do I print, save, or email copies of my filed forms? What if I see an error on my filed form or need to request an amendment? What are the Taxes and Rates for 2008? What do I need to know about Year End bonus planning? Why is there a separate check paid to the IRS in my QuickBooks payroll register? What should I do if an employee lost their W2? Step 3: Update Your State Unemployment and State Disability Insurance Rates. State Unemployment QuickBooks Payroll subscribers must update their state unemployment insurance (SUI) rates themselves. The QuickBooks Payroll tax table does not include updates to these rates, because states assign each employer a unique rate based on their employment history. Employers located in states that have state disability insurance (SDI) may also need to update their SDI rates themselves. For some states, however, the state disability insurance rate is supplied by the tax table, and you cannot edit it. If the rate changes, check to see if you have the current tax table. If you use Assisted Payroll, update your rate on or after Jan. 1, 2008, but before you run your first payroll of the year. Do not update your rate before Jan. 1. If you do, your state unemployment (or disability) withholdings for your remaining 2007 paychecks will use the new rate and will be incorrect. Update your SUI or SDI rates in QuickBooks by editing the appropriate payroll item: In QuickBooks 2007: Select Manage Payroll Items, and then choose View/Edit Payroll Item List. In QuickBooks 2004—2006: From the Employees menu, choose Payroll Item List. Select your SUI or SDI payroll item. If your state disability insurance is collected by a private agency, the associated payroll item may be set up as other tax, not state disability. How do I edit the rate of a user-defined other tax payroll item? From the Payroll Item menu button, choose Edit Click Next in the Payroll Item Setup wizard until you see the tax r