17 Nov Payroll Tax Forms
QuickBooks has the ability to prepare the federal payroll tax returns form 940, 941, Schedule B and print the forms on plain paper. There is a wizard for each one that will provide the information as it was entered into QuickBooks, and allows for changes if necessary. To use this feature, choose Employees > Process Payroll Forms.
At the end of the year, the software will also print the W-2 and W-3 forms. They, however, require the blank forms to be purchased if a valid Do It Yourself Payroll Service is not in effect. New with version 2003, if a current Do It Yourself Payroll Service is available, the reports can be printed on blank paper. To process the W-2 and W-3 forms insert the purchased forms into the printer, then choose Employees > Process W-2s. The software will require review of the forms first, and then it is possible to print them.
TRICK: QuickBooks does not currently prepare the state payroll tax returns. For businesses with many employees, there is add-on software available to process the forms. ( For one alternative http://www.aatrix.com/win/home/ or call 1.800.426.0854 or ReportWiz) For smaller employers, to obtain the information necessary to manually complete the form, the Employee State Taxes Detail Report may be helpful. As an example, for the California DE-6, try the following:
- 1. Reports > Employees & Payroll > Employee State Taxes Detail
- 2. Change the Payroll Item from all state, to CA-Withholding
- 3. Remove the tips column if it is not needed
- 4. Memorize the report for use next time
Or there is a report that uses the Excel interface and pivotal tables. To investigate this alternative, choose Reports > Payroll and Employees > Summarize Payroll Data in Excel. Modify the report for State Withholding. For California Employment Development Department purposes this Excel report has been submitted and not rejected.
TIP: If the Assisted Payroll Tax Service is being used, the service will file all required federal payroll tax forms and state payroll tax forms, including Form 940, Form 941, and Forms W-2 and W-3.
TIP: New with version 2002 were two additional services: Retirement Planning (with Principal Financial Services) and integrated online HR functions (called Employee Organizer). To investigate these options, choose Employees > Employer Services.