Showing posts from December, 2013

How to Create a Company File in QuickBooks.

New to QuickBooks?
 This section is just for you. I’m going to show you how to create your company file, which is the file you’ll use each time you use QuickBooks. Creating company file

QuickBooks walks you through a setup process that will create your company file for you.

1 Open QuickBooks. You’ll see the No Company Open window.

2 Click Get Started.

3 On the Create New Company, enter information about your company and click Next.

o Company Name — What you call your company.
o Legal Name — Your company name as it appears on legal documents.
o Address/Country — The address for your company as you want it to appear on
invoices, checks, and other forms. You can also enter different addresses for
Shipping and Billing.
o Company Start Date — The date you want to use to start tracking your business
transactions in QuickBooks. Usually this is the first day of your current fiscal year.
QuickBooks for Mac 2013 User’s Guide 7
Although you can change your start date later, it’s best to decide o…

Intuit QuickBooks Payroll Year-End Tax Table Update

Intuit has released Payroll Update 21402, with revised tax tables. Several forms updates are included for Standard and Enhanced Payroll customers. This email also provides an important reminder about the additional Medicare employee tax for 2013, as well as other year-end payroll information.
Get the Payroll Update
The Payroll Update ensures that you will be in compliance with legislation that affects your payroll.  For details on the contents of this update, go to  Employees > Get Payroll Updates > Payroll Update Info.

To confirm that you have received the update, open QuickBooks and chooseEmployees > Get Payroll Updates. If you don't see a message that says,"You are using tax table version: 21402," click UpdateGet complete instructions.
To turn on the automatic updates feature
With tax season quickly approaching here is something important you may need. Need tax forms? Call the IRS forms line at 800-829-3676 for W-2- W-3, 1099-1096, W-4 2014 and more!

How to convert your file from QuickBooks for Windows to QuickBooks for Mac.

If you’ve switched from QuickBooks for Windows to QuickBooks for Mac, you’ve probably noticed some differences. QuickBooks for Mac is built as a Mac product from the ground up, so the interface elements will be familiar if you’ve used other Mac applications. If you’re used to usingkeyboard shortcuts, they will be different on the Mac.

Converting your file from Windows
Want to switch from QuickBooks for Windows to QuickBooks for Mac? Welcome! We’re glad
you’re here. So you’re probably wondering if you can convert your QuickBooks for Windows
company file into QuickBooks for Mac. The answer is: Yes!

You can convert any company file from  U.S. versions of QuickBooks Simple Start, Pro, Premier,
and Premier Accountant Edition 2009, 2010, and 2011 for Windows. If you are using a QuickBooks
for Windows version that is earlier than 2009, you can still open your file in QuickBooks for Mac.
It’ll just be a couple of steps more.

Before you start, be sure that you’re familiar with what data is conv…

Tax Calendar

Due Date Day of the Week Deposit FICA and FITW for wages paid for the period  from 
December 16,2013 Monday Monthly due date for Nov. liabilities December 18, 2013 Wednesday December 11-13              Fri. December 20, 2013 Friday December 14-17             Tues. December 25, 2013 Wednesday Bank Holiday-Christmas Day December 26, 2013 Thursday December 18-20                Fri. December 30, 2013 Monday December 21-24               Tues. January 1, 2014 Wednesday Bank Holiday- New Year’s Day January 2, 2014

IRS Rates

Wondering about the rates that will be effective for this tax season..... The QuickBooks Gal is here to help. 

Payroll rates and bases2013

Employee SS and Medicare                                                6.20%/ 1.45%*

Employer SS and Medicare                                                6.20% / 1.45%

Social Security wage limit                                                   $113,700

Medicare wage limit *                                                        Unlimited

FUTA- taxable wage base                                                 $7,000

FUTA rate                                                                         6.0%

FUTA maximum credit                                                       5.4%

Minimum FUTA deposit rate                                              0.6%

* For 2013, withhold added Medicare tax of .9% on wages over $200,000

Standard mileage rates2013

Business*                                                                            56.5 cents/ mi…

IRS Tax Calendar for Businesses and Self-Employed

IRS Tax Calendar for Businesses and Self-Employed Online Calendar View due dates and actions for each month. You can see all events or filter them by monthly depositor, semiweekly depositor, excise, or general event types.
Desktop Calendar Tool The IRS CalendarConnector provides access to Important Tax Dates for Small Businesses right from your desktop, even when you're offline. As new events are added, they will be automatically updated via the desktop tool. A new version of the IRS CalendarConnector is available. 

If you have the original version installed, you may wish to uninstall it, as IRS CalendarConnector 2 has a few new features: 1.Employer events are now separated into "Monthly Depositor" and "Semiweekly Depositor" categories. You can use checkboxes to select as many event categories as you would like to display:

·General ·Monthly Depositor ·Semiweekly Depositor ·Excise When you click the "minimize" button, IRS CalendarConnector 2 positions itself in t…

Social Security Administration Dates to Remember

Due to the recent government shutdown, the dates for Tax Year 2013 wage reporting and processing will be delayed, as follows:
SSA's Electronic Wage Reporting applications will close on 12/20/13 and reopen 12/13/13;We will accept Tax Year 2013 and prior year files beginning on 12/23/13; and We will begin to process files received after 12/20/13 on 02/11/14 In addition, there are some changes to the EFW2 file format for Tax Year 2013. You can view them at
Dates to Remember
December 23, 2013                 Business Services Online is available for accepting Tax Year 2013 and prior                                                 year files and W2 Online inputs.
January 1, 2014                       Update payroll systems to reflect the 2014 wage base rates.                                                                        Visit

January 31,2014                   …

2014 Social Security Changes

Wondering about all the new Social Security Changes? Let the QB Gal fill you in.

Cost-of-Living Adjustment (COLA):
Based on the increase in the Consumer Price Index ( CPI-W) from the third quarter of 2012 through the third quarter of 2013, Social Security and Supplemental Security Income ( SSI ) beneficiaries will receive a 1.5 percent COLA for 2014. Other important 2014 Social Security information is as follows:

Tax Rate: 20132014

Employee                                    7.65%                                                             7.65%

Self-Employed                            15.30%                                                           15.30%

Note: The 7.65% tax rate is the combined rate for Social Security and Medicare. The Social Security portion ( OASDI )  is 6.20% on earnings up the applicable taxable maximum amount(see below). The Medicure portion (HI) is 1.45% on all earnings. Also, as of January 2013, individuals with earned income of more than $200,000 ($250,000 for…