How to Identify the Right QuickBooks Payroll Product, and avoid common payroll mistakes?
If you are an owner of a small business unit and want to feel relaxed always whenever comes the matter of payroll. An effective payroll strategy always renders fruitful benefits to the business, therefore keeping consistent research & making a significant introduction to the advancement of payroll methodology will always be a smart act.
So, do you really think that you can handle your company’s payroll in a better way? If not, then reading this blog is going to be very helpful for you not only with the information about right payroll for your business but also with some intelligent tips to avoid general payroll issues & common errors.
Some major considerations which should be taken while using payroll products are discussed below:
Interaction with client
Before choosing any QuickBooks payroll product a interaction with clients to understand his exact need can help you to choose the appropriate one.
Considering some special functionalities
Differentiate the product on the basis of requirement. For example-if job costing & tracking feature is required by you, then selecting a desktop version of accounting software will be more beneficial than QB online.
What is Additional Payroll?
Also, named as QB Enhanced Payroll, it is very effective especially for people who are willing to operate payroll on their own.
What is Assisted Payroll?
Assisted payroll is especially available for people who want to utilize payroll on their own based on factors like an annual tax, e-pay federal, state taxes, e-file, annual tax return etc. Clients already having taxes & return filing are provided with full service by the assisted payroll. Also, it is having job costing as well as class tracking feature due to which the tax can be impounded by the scheduled check within 24 hours. So, if you have requirement of this feature, then utilization of QB assisted payroll is mandatory for assisted payroll, there should be a supported version of QB desktop.
What is a Full-Service Payroll?
With the help of full-service payroll, a lot of options for business are open for users. Clients are eligible to process their own payroll including all factors and the service is not constrained to a single computer. Also, the data access is possible anytime, anywhere from any device such as tablets, mobile phones etc. A full-service payroll by Intuit is recommended if the client wants to avoid mistakes of forgetting payment time. For maintaining timeliness of payment, the IFSP plays a crucial role here.
Well! Apart from the selection of payroll methods, the important topic for discussion is common errors which are encountered by users while using QuickBooks.
- Payroll error, PS077 or PS032,
- Error code PS107
- QB Payroll error 30159
- QuickBooks Update error 12007
- QuickBooks error 15102( payroll download error)
- QuickBooks Support
- Payroll error 15270 updates did not complete successfully etc.
For uninterrupted usage of accounting software, it is mandatory for you to have complete knowledge about common errors. The above-mentioned errors are quite frequent and can be faced by you anytime while performing payroll functions with the accounting software.
What are payroll areas where clients are more likely to make mistakes?
Most often errors are the outcomes of inconsistent & incorrect procedures followed by clients in form of mistakes. Sometimes, pay payroll liabilities to feature is not utilized by the user, and entry of payroll taxes is done through writing checks or entering bill functions.
When client commits mistake using check register for writing checks for paying payroll tax liabilities. Symptoms of these mistakes are-
- Payroll tax and expense liabilities are higher than expected
- Bank account balance looks correct
Do users get a warning for related errors?
There are several instances when QuickBooks provides a warning to users when a recommended procedures are not followed by users. A smart user will always take care of these warnings seriously so that errors can be avoided in the future. But, there are many instances when the user does not take care of these warnings & payroll is processed inaccurately.
When each activity is performed through payroll menus, then QB payroll works best. In case you have written checks for paying liabilities and QuickBooks generated liabilities account for payroll was assigned then below mentioned error message is appeared:
This message, however only warns users but could not prevent them from using wrong payment type while making liability payments. With the help of this message, the user is directed to utilize QuickBooks payroll liabilities feature for creating a liability check.
- Inaccurately paid liabilities can be found by going to the Client Date Review section, and correction of liability errors can be done via two methods:
- In case of check or bill payment, one should check whether the check is reconciled. If not, then check should be voided and new correct check should be issued.
- If the check is cleared in bank reconciliation, then payroll liability adjustment option should be used for correction.
Hope, reading the blog, you might have got a clear understanding of how to use payroll efficiently with the aid of QuickBooks accounting software. In case of confusion, you can take assistance from QuickBooks Payroll Customer Service executives anytime.