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Chapter 2. Setting Up and Using Payroll ... > Entering Year-to-Date Payroll Amount...

Entering Year-to-Date Payroll Amounts

Because government agencies expect you to prepare annual tax reports that include data for the entire year, you might need to enter year-to-date amounts for your payroll records. This applies to you only if you started using QuickBooks at some time after the start of the calendar year. By entering your year-to-date amounts, you ensure that your year-end tax forms, including your employees' W-2 Wage & Tax Reports, will be accurate.

Enter Employee Year-to-Date Payroll Amounts

Select Payroll Services from the Employees menu; then select Set Up Payroll.

Click Set Up Year-To-Date Amounts. If that option is not available, you might have to perform other payroll steps. Depending on type of service you select, these steps differ. Return to this task when you have entered all the payroll information necessary to make the Set Up Year-To-Date Amounts option available.

Click the Set Up YTD Amounts button.

Read the information presented and then click the Next button when you are ready to proceed.

Enter the date on which your year-to-date amounts should affect your liability and expense accounts. If you have updated your accounts for payroll expenses with journal entries or have entered up-to-date opening balances for these accounts, enter the current date. If you plan to go back and enter paychecks that have already been issued, enter the date for which you will start entering paychecks.

Enter the date on which the amounts you enter should affect your bank account. See the description in the previous step.

Click Next.

Enter the date on which you plan to start using QuickBooks to regularly issue paychecks.

Click Next.

Click the name of an employee for whom you will enter year-to-date information.

Click the Enter Summary button.

Enter the dates that encompass the year-to-date payroll information you will enter for this employee.

Enter the total salary or wages you have paid this employee for the dates specified.

Enter all taxes and withholdings that apply to this employee for the dates specified.

Click OK.

Repeat steps 10–14 for each employee.

When all the year-to-date employee information has been entered, click the Next button.



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