Payroll is an area of business that everyone has some experience with – we’ve all had at least a few paychecks in our lives – but if we’re honest, we don’t really know all the parts that make up what amounts to our paychecks. This gets even more confusing when an owner has to part out the employer expense from the employee expense. QuickBooks’ default setup is also confusing because it dumps all the parts into a single liability account and a single expense account making it very difficult to manually reconcile either of them if there’s a problem or a question.
If you’re a Tier 1 client, we’ve built in those details to create clarity and we’ve taught you what they are. If you’re a Tier 2 client, we’ve done that as well as done the filing and reconciling for you. If you’re a Tier 3 client, you don’t even know we’re doing it outside of paychecks and tax payments being made on your behalf.
In either case, there’s a clear workflow for you to add employee hours and pay rates, process payroll, direct deposit for employees and subcontractors, schedule state and federal tax payments, and file your quarterly and annual reports on a predictable and timely basis.