In this article, you will know how to add, edit, and delete the payroll item lists in QuickBooks. Items, which may be goods or services, is something that a business purchase, provides, or resells. Thus, they need to be entered and recorded properly.
Dancing Numbers helps small businesses, entrepreneurs, and CPAs to do smart transferring of data to and from QuickBooks Desktop. Utilize import, export, and delete services of Dancing Numbers software.
What is the Payroll Item List?
QuickBooks keeps track of every item that affects the amount of a payroll check as well as every company expense related to payroll. The Payroll Item list is what this list is known as. There are payroll items for pay, taxes, other additions and deductions, and employer-paid expenses. Each employee’s collected year-to-date wage and tax amounts are tracked for each employee using payroll items in QuickBooks. QuickBooks automatically adds some items to the list for you, and you can add more as you go.
QuickBooks offers extra guidance for key payroll items like compensation and benefits so you can set them up quickly and correctly. When performing payroll tasks, you interact directly with payroll items. When you create any type of payroll transaction in QuickBooks, whether it’s a paycheck, a payroll withholding amount payment, or an adjustment, QuickBooks expresses the transaction in terms of a payroll item. QuickBooks tracks your payroll liabilities in the Payroll Liabilities account (an Other Current Liability account) in the background.
On a paycheque, every item is set up as a payroll item. Along with the payroll items used by QuickBooks to track Federal Tax, EI, and CPP, there are 5 common types. The following are the 5 types:
- Other Tax
- Company Contribution
What is the use of Payroll items in QuickBooks Accounting Software?
The payroll items in QuickBooks accounting software can be used to monitor individual amounts on the paycheck. It can also be used to gather year to date wages and tax amounts for every employee.
Ways to Add, Edit, or Delete Payroll Item List in QuickBooks
Below we have mentioned the mandatory steps to be taken to add, edit, or delete QuickBooks items. Firstly, we will explain how to add items in QuickBooks, then edit the items in QuickBooks, and then delete those items in QuickBooks.
Steps to Add the Payroll item List in QuickBooks Desktop
In QuickBooks Desktop, it is very easy for users to generate and add the Payroll item list. Here is how you do it:
Step 1: Press the particular QuickBooks Desktop menu.
Step 2: Select the list from the particular drop-down option.
Step 3: Navigate to the payroll item list available on the lower left.
Step 4: Now select the Payroll item tab.
Step 5: Select the Next button and then click the Custom Setup.
Step 6: Press the Next button.
Step 7: Select the wage and then carry on with the given instructions.
Step 8: Post this, add the Payroll item list and press the Next button.
Step 9: Add the name of the item list and select the next button.
Step 10: Choose the expense account that is required to list of items to monitor.
Step 11: Press the Finish button and the program is complete.
Steps to Add the Payroll item List in QuickBooks Online
Step 1: Open your particular QuickBooks account and then select the Employees menu.
Step 2: Select the Employee Centre.
Step 3: From the selected preferences, select the Employee Centre.
Step 4: Click the Employee name twice and then select the Payroll info tab.
Step 5: Navigate to the area that is just under the Item name column.
Step 6: Now select the drop-down arrow and then choose the payroll item list.
Step 7: In the particular annual rate column, add the hourly rate of the employee.
Step 8: Select the OK button and press it to save the changes.
Steps to Edit Payroll Item list in QuickBooks Desktop
In order to edit the particular Payroll Item list in QuickBooks Desktop, you need to follow certain steps. Here are they:
Step 1: First, you need to select the List menu.
Step 2: Now select the Payroll Item list.
Step 3: Now you need to select the item list and then press on the Edit menu.
Step 4: Then you need to select Next two times and then add the right tracking type.
Step 5: Press on the Next button and then select the right taxes.
Step 6: Now select Calculate based on quantity.
Step 7: Now you need to add the limit type.
Step 8: Select the Finish button and then it is complete.
Steps to Edit Payroll Item list in QuickBooks Online
Here is how you edit payroll items in QuickBooks Online:
Step 1: Open your particular Payroll account in QuickBooks.
Step 2: Now select Employees.
Step 3: Now select the payroll item list along with the name of the Employees.
Step 4: Press right-click and then select the Edit option.
Step 5: Do all the changes that you wish to make.
Step 6: Press on Save and then the OK button and end the program.
Steps to Delete Payroll Item list in QuickBooks Desktop
It is very easy to delete the payroll item list in QuickBooks Desktop by just following the steps given below:
Step 1: Press on the Employee menu available on the top end of the menu bar.
Step 2: Now choose the Payroll Centre and then select the pay Employees tab.
Step 3: Locate and press the Click on payroll option available on the payroll field.
Step 4: Now choose the payroll item list that you need.
Step 5: Select the Delete button and hit it.
Step 6: A confirmation message will show up on the window. Select the Yes button and then the program is complete.
Steps to Delete Payroll Item List in QuickBooks Online
Here is how you can delete a deduction from the employee setup, however, it will be there in the payroll item list if the deduction was used already.
Here are the steps to delete a payroll item list in QuickBooks Online:
Step 1: The first option is to select the Employees and press on the Name of the Employee option.
Step 2: From the particular Contribution and Deduction area, select the Edit option.
Step 3: Select the trash bin icon. Then you must select the remove to confirm deletion.
Step 4: Navigate to the QuickBooks Online Payroll homepage.
Step 5: Select the Employees section and then select the name of the Employee.
Step 6: Press the next Edit option that is just beside the deduction element.
Step 7: Select the trash bin icon that is based on the deduction element.
Step 8: Now select the Yes button and confirm.
How to Import Payroll Item List into QuickBooks with Dancing Numbers
The best way to share your business plans and data with your clients is by Importing your Payroll Item List Into QuickBooks. QuickBooks Payroll software makes your business easy to handle by using new techniques and applications. You can save time and increase the productivity of your business. Below is the blog which will tell you the easy steps regarding importing payroll item lists into QuickBooks.
Import Payroll Item List Into QuickBooks using Dancing Numbers Desktop
- First, you have to open Dancing Numbers and then connect to the QuickBooks desktop company that you want to import into.
- Then you have to click on the Import tab and then you have to browse to the Excel or text file that includes the payroll item list.
- Select the option to create a new mapping in the mapping section and then link the columns in your import file to the matching fields in QuickBooks desktop using the drop-down list options.
- After that, click the import button, and then Dancing Numbers will import the payroll item list into QuickBooks desktop.
Import Payroll Item List Into QuickBooks using Dancing Numbers Online
- First, you have to sign in to Dancing Numbers Online by using the credentials of QuickBooks Online. To start the import process you have to click on the Import button. Then, to upload the excel file you have to select the option Employee and after that chose the file of the employee list.
- The second option is to map the rows and columns of the data, but according to QuickBooks Online data format so that all of your data is imported in the right place.
- Lastly, you have to click on the Import button and then it will automatically import the employee list into QuickBooks Online.
How to Set Up Bonus Payroll Item in QuickBooks
To keep any business going, you have to keep your employees motivated. And for this motivation, you have to pay bonuses to them. The accounting software available these days help you make such calculations and set up bonus payroll item. There are different ways to pay bonus to an employ. This could be bonus on his/her regular salary or may be a cash or gift voucher or a completely separate cheque for bonus amount only. Let us check some steps on how to go about paying bonuses.
Steps for Creating Bonus Paychecks QuickBooks Payroll
Here are some simple steps to follow if you wish to pay your employees one-time bonuses. It is possible for you to set up one or more payroll items to track the bonuses you pay.
Step 1: To start the process, you should look for the Lists menu.
Step 2: Then, You should click the Payroll Item List from this menu.
Step 3: After this, The Payroll Item Button should be clicked by you.
Step 4: Next step is to click New.
Step 5: You would get to see two options for setup. Used by most of the users is the EZ setup advanced users work on Custom setup. You should choose whatever suits you and then click on the Next button.
Step 6: Now, You should choose the item type that you wish to set up and click on Next.
Step 7: After this you would get some onscreen instructions. You should simply follow these instructions.
Step 8: In case you want to go to the previous window, Simply click on the Previous button and you would be back to the previous window.
Step 9: The last step is to click the Finish button and your job would be done.
Steps to Create a Bonus Payroll Item in Desktop Payroll
Using an accounting software, It is possible for you to generate a bonus payroll item to pay a bonus pay check to employees. You can create a bonus pay check in desktop payroll using the following steps:
Step 1: You should start from the Desktop menus at the top and then look for Lists > Payroll Item List. Now, You should select this option.
Step 2: After this, Look at the lower left of the Payroll Item List and select the Payroll Item button > New.
Step 3: Next, You should select Custom Setup, and then select Next.
Step 4: Now, You should select Wage, and then Next.
Step 5: You would now get to see the option Bonus, select it and then press Next.
Step 6: You should now enter the name of the item and move to Next.
Step 7: Now, Choose the expense account you want the item to track to and you are through with the steps. Select Finish and your bonus payroll item would be done.
The above article includes all the important information related to importing payroll items lists into QuickBooks. If you still face any kind of issue with this blog then you can simply connect with Dancing Numbers expert via LIVE CHAT.
This brings us to the end of this informative article. Be it adding, editing, or deleting the payroll item list in QuickBooks, everything is easy now with the steps given above.
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Frequently Asked Questions (Faqs)
Where is the Payroll Item List in QuickBooks Online?
● First, You have to go to Settings and then have to select Payroll settings.
● Then click on Preferences and then select Accounting Preferences.
● Now you have to search for the payroll item that you have created and then choose the payroll expense from the drop-down list.
How does Payroll Work in QuickBooks?
QuickBooks Payroll is a cloud-based payroll solution that enables businesses to pay employees, manage employee benefits, and file payroll taxes all in one location. By automatically calculating, submitting, and paying federal and state payroll taxes, the software saves time.
Is it Easy to do Payroll on QuickBooks?
Payroll processing is quick and simple in QuickBooks Online. You may perform payroll with same-day payment and sync both your business account and the accounts of your employees. Payroll payments can be made on a recurring basis by creating a pay schedule.