QuickBooks Payroll Support
QuickBooks accounting software has many features that help in the smooth functioning of the business. If QuickBooks Payroll is an integral part of this program that assists in all the important financial calculations related to business and employees. With the help of the payroll software, you get the benefit in tax preparation, IRS penalties, and even lawsuits. But there are certain scenarios when the Payroll Mistakes in QuickBooks Instantaneously users face problems. If the problems are not fixed at the right time then it might end up with complex issues and the work process is hindered. You need to connect with the QuickBooks Payroll team to fix the errors. Some of the common payroll mistakes reported by the users are reported below:
Common Payroll Mistakes
- Misclassification of the Employees: The employers need to pay for social security and medicare payroll. The payments not made to the contractors but payments made to employees. In case there is misclassification of a contractor employee, you might be compelled to pay back taxes added with penalties.
- Excluding Bonuses and Gifts: The bonuses for holidays as well as gift cards that are for the employees are not tax-free. A minimum value of prizes, awards, and gifts have to be added by the employers along with the wages of employees’ annual W-2.
- Ignore Adornments: In case if you receive any wage adornments or child support notice for an employee, you have to obey it. If you are getting adornment to notice, it indicates that you bound to withhold a certain dollar amount from the paycheck of employees.
- Fail to Fetch Contractor Information: No matter the business is small or big, you have to make and send a 1099-MISC Annual Form to all independent contractors who have a salary of $600 and above. In small-sized businesses, the contractors have to complete a form W-9 prior to the project starts.
- Lacks Data Security: The security standards might vary compared to the big companies. But is very important that the financial records need to keep confidential. In case you are choosing third party agencies to ensure that the login credentials are safe.
Related Blog: How To Fix QuickBooks Payroll Error 30159
Symptoms of Payroll Errors:
- The tax expense accounts and payroll liabilities are more than planned.
- The bank account balance is all correct & reconciled.
- The payroll tax returns display with no balance due and no receipt of any delinquent notices.
How to Fix Errors?
- Identify wrongly paid payroll liabilities
- Fixing the payroll liability payment errors
- Deleting Out Past Due Liabilities
- Payroll Mistakes in QuickBooks Instantaneously
- Identify the non-payroll transactions
- Generating Payroll Liability Checks Directly in the Check Register
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