How to Change Payroll Schedule in QuickBooks Desktop?
QuickBooks is a one of the world’s best accounting software or a set of accounting tools & it isa first choice of small business owners. It is easy to use & has many features, and provides many functions, such as payroll, payments, inventory, invoicing customers, paying bills, generating reports, and preparing taxes for businesses.
QuickBooks Payroll is a cloud-based payroll software that is used by corporations to pay their employees, report payroll taxes, and manage employee benefits and HR in a single location. QuickBooks Payroll saves time by routinely calculating, filing, and paying federal and country payroll taxes.
The payroll Schedule defines the duration after which you have to run your payroll to pay your employees to their payday. You want to mention how regularly you pay your employees, which day their paycheck is due, and which day you run payroll. QuickBooks evaluates your upcoming payroll schedule so you pay your employees on time.
Payroll schedules enable you to organization employees having the equal pay frequency in a way that facilitates making your payroll run with ease with no problems.
Schedule Creation is one of the best features of QuickBooks Payroll. QuickBooks Payroll provides the necessary tools to make payroll and tax payments regularly. If you’ve never managed payrolls in QuickBooks, So don’t worry in this article you will learn how to create schedules, how to manage, and how to change the schedules in QuickBooks Payroll.
Types of Pay Schedule
Here 4 types of pay schedules you can easily apply to your employees.
- Weekly: In weekly, you can only pay on a selected day in a week. like if you pay your employees on Monday then next week you can pay your employees only Monday. Most organizations schedule paydays on Friday(Only Friday employees receive their payroll). That makes 52 payouts in the year.
- Bi-weekly: In Bi-weekly you pay your employees every 2-weeks. If your scheduled payday is every other Friday. That makes 26 payouts in the year.
- Semi-monthly(2 times in Months): In Semi-monthly you pay your employees 2 times a month. 1st pay in the middle of the month, and 2nd pay at the end of the month. Mostly schedule payouts on the 15th and 30th of the month. That makes 24 payouts in the year.
- Monthly: In Monthly you pay your employees 1 time every month on the selected date. That makes 12 payouts in years.
Steps to Change Payroll Schedule in Quickbooks Desktop
QuickBooks Payroll Creation:
- Select Employees then Select Payroll Center from the menu.
- Select Payroll Schedules then click on New.
- Select Schedule type from multiple options (Weekly, Bi-weekly, Semi-monthly, and Monthly).
- Select pay duration end date.
- Select the date for paychecks as your per need.
- Then press Ok.
- Now message prompt visible Select Yes option.
- Another message prompt is visible then press ok from option.
- Go to the employee’s section and select scheduled payroll.
- Select scheduled payroll from pay employees.
- After completing assign your payroll schedule to your employee and press start scheduled payroll.
QuickBooks Payroll Schedule Changing Or Updating:
- Go to Employees.
- Select Payroll Centre.
- Select Payroll Schedule. (Which one is you want to change or update)
- Go to Payroll Schedule from the menu.
- Select Edit Schedule.
- Now you can do necessary changes and Updates(like Name, Schedule duration, date, etc.) in the Edit Payroll Schedule.
- After Completing press Yes
- Press OK in End!
Frequently Asked Questions (FAQ)
What types of information do users need to set up Payroll schedules before starting using QuickBooks Desktop?
It’s not necessary information to users know. You can easily select to preview the employee’s list, mark the ones as your need whom you want to pay, and then create their paychecks.
What information does the user need to create a payroll schedule?
Collect the records that you enter in scheduled payroll, including a list of your worker names, and their pay frequency. How regularly do you pay your employees? Employees can also be grouped with regards to the pay frequency that may be weekly, biweekly, or monthly to decide what type of pay schedules you need to install in your corporation.