If you have QBO Full-Service Payroll, do you have to still input the transaction entry each pay or if you code it the first time, will it automatically record appropriately to Wages, FICA, FUTA, SUTA, etc?
Let me help share some information about using the Full-Service Payroll in QuickBooks.
QuickBooks Online Full Service is a Do it for You payroll service. If you have this subscription, you can contact our Payroll Team so they can do the set up for you. You can also do it on your own by performing the steps provided in our tutorial page.
Once you have completed the setup for your taxes, this will automatically calculate every time you run your payroll.
You can check out the following helpful articles below to guide you with the process:
Thank you for your response - I know that everything is calculated, but I was asking if the amounts from each payroll run are converted into an entry of some sort so we can see for example: Debit to Wages, Debit to FICA, Debit to FUTA, Debit to SUTA, Credit to Vision Expense, Credit to Health Insurance, Credit to Checking? Does that make sense? Or if not, how is it recorded once payroll is ran? Thanks!
Thanks for getting back. Let me help provide additional insights about the transaction entries of your payroll.
Once your payroll service is set up, our system will automatically create the default accounts you can record your payroll liabilities and expenses. On your payroll accounting preferences, you can see which expense and liability accounts are affected when you create a paycheck.
You can always choose your desired account if needed. Just go to your Chart of Accounts and set up your payroll account from there. Let me route you this article for more information: Set up Payroll account preferences.
If you need to run a report and check the posting transactions for your payroll, you can go to the payroll account and click the drop-down arrow for View register on theChart of Accounts. I'd suggest contacting our Full-Service Payroll Team, so they can assist you with the help of their screen-share tool.