Important Payroll Update!

Lend your eyes and ears to this important update!


       Inuit has just released Payroll Update 2013, with revised tax tables. There are Several forms updates that are included for Standard and Enhanced Payroll customers. As you read this you should be asking yourself whether or not you have already received the Payroll Update 2013.
      

  • Not sure if you have received it or not? Don't worry! Below you'll find instructions on how to check to see whether or not you have gotten the update.
  • Make sure that you have received everything in the P Update so that you can be in compliance with legislation that affects your payroll. For details on the contents of this update, open QuickBooks, go to Employees > Get Payroll Updates, and click on the Payroll Update Info button.

How to check to see if I have the update? Open QuickBooks and choose Employees > Get Payroll Updates. You should see a message that says, "You are using tax table version: 21302."
  • If you do not have version 21302, click Update. For more detailed instructions, click here.

Turn on automatic updates feature for Payroll Updates:
 Choose Help > Update QuickBooks. On the Options tab, select Yes for Automatic Update. For more information, click here.

Other Important News!

Federal Tax Withholding Tables for 2013
       At the time of this payroll update, the IRS had not published the 2013 federal withholding tables for wages paid in 2013. You should continue to use the current federal withholding tables.
Once the IRS publishes the 2013 federal withholding tables, Intuit Payroll will include them in an upcoming payroll update. For more information, click here.

New Payroll Tax Item: Medicare Employee Addl Tax
      Beginning January 1, 2013, employers will be responsible for withholding an additional 0.9% Medicare tax from an employee's wages and compensation paid over $200,000 in a calendar year. Click here for more information on the additional tax.
  • A new payroll tax item, Medicare Employee Addl Tax, has been added to QuickBooks. If you have employees who are subject to Medicare tax, you should set up the new payroll tax item in QuickBooks prior to creating paychecks for 2013.



Comments

Post a Comment

Popular posts from this blog

How to "Un" Apply Credits In QuickBooks

Image
Got a QuickBooks Mess? Call The QuickBooks Gal! Welcome to the QuickBooks Minute. I’m Jayne Miller, the QuickBooks Gal Recently, one of our Reno QuickBooks customers asked about "unapplying" credits in QuickBooks. While there are nicely labeled apply credits buttons, there are none marked unapply. This is the case for both customers (invoicing) and vendors (paying bills). So here is how it is done: For customers, it is a fairly easy process. Go to the invoice to which the credit was applied. Then click on the "Apply Credits" button. In the lower half of the new window that pops up is a list of Previously Applied Credits. Simply find the one, or ones you wish to unapply and click on the check mark next to it to make the check mark disappear. The credit will no longer be applied or tied to that invoice. For Vendors, i.e. bill payments, it is not as clean and simple. The only way to unapply a credit in such a case is to Delete the credit. You can then
Read more

QuickBooks Password Protection

QuickBooks now requires your employees to enter a password to view their pay stubs when you e-mail them. QuickBooks generates the passwords automatically; each password consists of the first four letters of the employee's last name followed by the last four digits of their Social Security number. Examples Name:                            SSN:                         Pay Stub Password: Ben Narramore              855-56-4545             narr4545 Deb D'Spain                  782-34-3419             dspa3419 Jimmy Wu                     903-88-7465             wu7465 Note that all characters must be entered in lowercase and punctuation characters are not included in the password. When a last name has fewer than four characters, the whole last name is used (like in wu above) but no additional characters are added. You will need to inform each employee of this new password requirement
Read more

Employee Salary/Wage Rate Report

Image
Welcome to another QuickBooks Gal Minute. I'm Jayne Miller, The QuickBooks Gal. Do you need to produce a report by Employee that lists only Employee Name and Wage Rate? In QuickBooks that's easy! Here's how to modify a standard report to include the data you want to report. In the top tool bar, select Reports Select Employees & Payroll Select Employee Contact List from the drop-down list Once inside the report, select Modify Report in the report tool bar In the "column" section, remove the check marks from the information choices you don't need. In the "column" section, place a check mark next to "Employee" In the "column" section, place a check mark next to "Earnings/1 Rate" This will customize the report to include only employee names & salary/wage amounts. As you explore the Modify window, you will find that there are many useful information options you can use to create really great custom reports...by the
Read more