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Payroll top 10 tips and tricks

by Intuit Updated 2 months ago

Congrats! You set up your payroll and are ready to pay your employees. Or you have been running payroll for a while now and are looking for the next steps. Need some tips to help you be successful or as we like to say, “avoid the voids”? Well, we’ve got you covered. Check out our list of top 10 tips to have a successful payroll.

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  1. Check your employees. When you set up your employees, you added a lot of info. It's time to check it over to see if anything changed.
  2. Clean up your employee list. Add ‌new hires and enter release dates for terminated employees.
  3. Verify your deductions & benefits. Do you provide health insurance or 401(k)? Do any of your employees have wage garnishments? If you said yes, check with your providers annually to see if your contributions have changed. For wage garnishments, check your employees’ legal orders for end dates and rate updates. Update it all in each employee's profile. 
  4. Paid time off (PTO), Sick, Vacation. Keep track of any sick time, vacation, or any other paid time off your employees took during this pay period. You’ll want to pay them out accordingly. 
  5. Pay schedule. Each of your employees is on a pay schedule. Pay schedules determine how often you pay your employees, what pay periods you use, and your next check date. Review your paycheck date and pay period end date to make sure they work for your business.
  6. Holidays.  Look out for federal holidays that may affect your payroll.  You might have to adjust when you send your payroll so direct deposits aren’t delayed.
  7. Automate! Save time and create easy by automating what you can.
  8. Examine your reports. Payroll reports break down total wages, taxes, deductions, and contributions. The Payroll Summary by Employee report is by employee and the Payroll Details report breaks it down by pay date. When you are in the middle of creating payroll, select the Preview Payroll Details report to check everything is good before submitting your payroll.  
  9. Go through your payroll preferences. Double-check the basics so you don’t get stuck when you are ready to send.
  10. Adjust your paychecks. Now it's time to create your payroll. Review each item on the paycheck. Add or remove items. Adjust your hours or salary. Check the deductions or additions. Add vacation, sick, or holiday pay.
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