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in this video we're going to talk about how to set up payroll inside QuickBooks Online how to create your first paycheck and how to run the payroll reports so you control the entire payroll cycle now let's start with QuickBooks online and in this particular file I have not enabled payroll yet best way to know if your payroll has been enabled is to go into the gear menu on the top right click on the gear menu and then click on subscriptions and billing once you click on subscriptions and billing you will know all the different services that are attached to your QuickBooks online account for example for accounting and bookkeeping I have QuickBooks plus but I do not have enabled QuickBooks Online payroll or QuickBooks time or QuickBooks online payments etc etc so there's two Pathways to enable your payroll services you can click on where it says learn more right there and then and that's going to take you to the sort of uh shopping cart page where you can choose which version of payroll you want to addon payroll it's an additional service that you pay uh on top of the accounting and bookkeeping services or if you don't do it through that path you can click on payroll and then employees and then inside of the employee page you're going to see the exact same shopping page to pick your payroll services now I do want to make one really quick important statement if you are watching this video and you have not enabled payroll yet don't use the standard pathway because the standard pathway will will give you 50% off for 3 months but if you actually email me I'll put the email in the description below if you email me it'll take you an extra day I'll have into a contact enable it for you in the back end and then instead of getting 50% off for three months as a promo you get 30% off for 12 months for a whole year so as a whole seller as a reseller of QuickBooks sometimes we get to give my clients a little bit of a better deal so if you can wait a day or two for that to be processed in the back end instead of you clicking to enable it go ahead and email me but anyway let me go ahead and activate uh payroll so we can do the example now there's three versions of payroll core premium and Elite core is $45 a month plus $6 a month per employee premium is $80 a month plus $8 a month per employee and Elite is $125 a month plus $10 per employee in a nutshell the difference is that uh on the premium you actually get a little bit a better support you get what's called an expert review so after you set up your payroll somebody from QuickBooks will actually double check that it's done correctly it also comes with what's called QuickBooks time which is a phone app that allows your employees to clock in and clock out and then finally you get same day direct deposit instead of next day direct deposit so it's a little a little bit of perk if you need to do sort of last minute payroll now under Elite we have couple things so one you still get the phone app but the phone app also does uh project or or job costing so employees can clock in and clock out on their phone but they can also choose what project what customer job they're working on and that information passes through uh QuickBook so when payroll is processed you get all the job costing information in the projects the other thing that you get on the elite is you get this thing called penalty protection where QuickBooks would actually take responsibility over any errors or penalties you get from the IRS or the state because of something that was done incorrectly and because of that they do What's called the expert setup so they they will actually set up payroll for you to make sure that it's done correctly so anyway I'm going to pick premium here just so so I can pick one I'm going to click on uh try it for 30 days or sign up uh whichever way it works it should allow you to go through the next stage I'm going to go ahead and finish the subscription process and get started with payroll so I'm going to select here and start the free trial and now that my pay is enabled I'm going to click on get started as I mentioned earlier if if if you email me and I set up or I email somebody QuickBooks to set it up for you you're just going to wait until you get email confirmation and you click on that same page that says uh let me just go back get started okay so now the first question you're going to get is have you paid employees during the current year so if you have paid employees maybe through a different payroll system you have to go through the process of entering all the back pay information so QuickBooks can issue a correct W2 and uh 941 940 forms for the government so you're going to select yes or no for for the example of this video I'm going to hit no because we're going to assume that we're starting payroll from scratch but if you do hit yes it's going to ask you a whole bunch of other questions specific to the back history of all the paychecks that you have written during that year so I'm going to click on next and then it says hey where when is it your first uh payday so I'm going to say my first payday is January 18th and you're going to pick whatever date matters to you then I'm going to click on next and then it's going to ask you hey double check your address double check your company name let's just make sure all this stuff is accurate then I'm going to click on next and next and then we're going to double check the person uh the person's name that's sort of in charge of payroll I'm going to put here a phone number because it is going to ask you for a phone number and an email then I'm going to click on next next question is add your first employee and by the way if I click on done I could always go back and add an employee later so I'm going to show you both ways I'm going to go to add employee and let's say I'm going to add Hector M Garcia and then I'm going to do Hector employee at qbk accounting.com and then the hire date let's say we just hired him on the 18th and then you have two options here you can do What's called the employee self setup which means the employee is going to enter all their personal information and then there's if you uncheck that then you have to enter all the information so I'm going to show you both ways because the self setup is actually pretty cool as well so I'm going to uncheck that and hit continue so then it's going to continue to ask me uh or at some point it's going to ask me questions about that employee and have to fill out all that information in there so in here I can add a picture of the employee I can upload any documents so we have any employment contracts if we have W4 forms whatever it is we can upload any documents in here if I go back into profile this is where I'm going to enter all the information about the employee let me click on edit and I can put a phone number address all that stuff I'm going to put an address here let's just pick that and let's say date of birth let's say 01 01 1975 okay and mail and a social security number I'm going to put I'm just going to put right numbers here random 99955 okay and then I'm going to click on next okay and then once this little eyes the little exclamation marks go away that means your your payroll is set up complet uh fully and you can actually run a pay a paycheck if you have these uh little exclamation marks means you can move forward until you've done that so I'm going to click on edit here and then let's add him to a specific pay schedule so let's say Hector is going to get paid weekly and I get to choose next payday end of the period like you know when when you know the paycheck that I'm writing ends in what period so let's say that this this pay check for the 18th ends let's say on Friday the 12th for example and then I'm going to click on uh save and basically um this becomes the default uh pay schedule for all the employees you create in the future and then down here um we're going to click save all the other stuff is not required scroll down on the tax withholding this is the information that you're going to copy from a W4 form every employee is supposed to give you a W4 form you're supposed to read that information and put it in here so you're going to put here whatever information you're reading from the actual uh form you're gonna put you know whether they're head of household married whatever whatever information is W4 form you're going to transcribe it into here then we're going to click on Save and maybe there was an error let's click on save one more time let's cancel here and go back edit we change this to head of household oh okay I had the social security number was wrong okay good point let me go back I probably enter that wrong in the first place so let me go back in here and put the correct social security number not here let's go into personal info I have to remember to put the correct one so let's edit this and it's going to have extra security authentication systems if you're going to edit any information so let me put this information here again let's do 888 33 6969 let's see if this works 8883 369369 so let me click on Save and let's go through this I actually don't know if into it has any sort of like verification system and that's why it's catching it or maybe I just typed wrong again I'm doing this random number for the purposes of the video so I'm not 100% sure if you know how it catches that so anyway let's go back in the tax withholding again let's put head of household and let's put 80 here or whatever it is then I click on Save let's see if it goes through okay now I went through now on the payment method I'm going to click on start and there's multiple options here you can either do a paper check so just print the check or you can do direct deposit for the purposes of this video I'm going to do paper check because it's just F faster process direct deposit requires special type of confirmations then on the pay types I'm going to click on start and then I'm going to put a how Hector gets paid so let's say he gets paid $50 an hour and he normally works um eight hours per day five days a week something like that okay and then you can add multiple pay types if you want to if you want to add like bonus bonuses or other hourly rates or overtime rates all that stuff all that stuff is available um here so uh you can you know go through these I'm not going to go into detail and what every one of these things mean but you can go through it and see all the different options that you have things that you can add and remove from your uh from your paycheck okay I'm going to click on Save let's remove this last P pay type and click on save so that's set up then under deductions and contributions you can add things like I'm going to click on ADD deduction you can add things like uh health insurance so let's say for medical insurance we're going to take away $250 from their paycheck a maximum of let's say uh $3,500 a year or you don't have to put a maximum there but you could and then you say whether this is pre-tax or post tax you might need to work with an accountant to make sure you're doing all these things correctly of course um but uh but this is the part that you're going to have to really really think about before you set up make sure all the stuff is set up correctly um and then let's say the employer portion of the of the paycheck is let's say uh $400 and the annual maximum is let's say 6,000 so in in this case we're assuming that the total payroll cost for the year is going to be 6,000 plus 3500 that's 9,000 and we're taking it out uh per paycheck so you can think about how you're going to calculate that again content for different video to kind of go through the logic on how much you should take out for pay per paycheck but essentially you're going to take the annual cost and divided by the number of paychecks because it's not always a very a very simple calculation because typically you pay um health insurance in a monthly basis but you don't really pay paychecks in a monthly basis you pay them weekly by weekly and they don't always land in a very clean organized month so that's why these uh Concepts exist here because it's not that straight forward so let's put here umna insurance or something like that and then click on Save okay and then under garnishments if they have child support or government levies of any sort you can add that in there so yeah definitely go through every one of these options and to figure out which ones apply to you then we're going to click on done and then we should actually be fully done with this employee if I go into payroll and click on employees now Hector should be listed as an active employee there's no errors on this file I can add a new employee I'm going to click on ADD add employee and let's put a different employee let's put Hector or or Carlos G Garcia and let's put here Carlos G at qvk accounting.com and let's say we also hired Carlos on the 18th but we're going to do Employee Self setup and I'm I'm going to kind of show you that process because it's actually pretty interesting how you can do that so I'm going to click on continue and then once you do that um technically most of these things should be set up by the employee automatically um so the employee is going to get an email and they have to now go through the process of selfs setup some things you do have to set up yourself like the pay types and the pay rate so let's say he gets paid a salary of uh monthly let's say it's 45,000 okay and then we're going to click on Save and um and he can still get paid to be clear he can still get paid weekly or bi-weekly this is just how we set up the the the pay types actually I don't want to put 45,000 per month I wanted to put 45,000 per year whoops sorry about that 45,000 per year and thisy actually going to calculate the monthly equivalent uh to that okay and then under deduction and contributions you have to set that up that's not part of the self- serve so let's come in here and let's do the insurance and let's say that this is going to be the same uh type of system here so same same same uh levels uh that um that uh that uh that the employee is that the employer is setting up for the employee and this is a 6,000 I think that's how I had it or did I have 500 I don't know whatever so I'm going to click on Save and that's a setup so it could be different now different employees could have different insurances and then we're going to click on done and then Carlos is set up so I go back into uh payroll and then go to employees and then both employees should set up notice that there's a little exclamation mark that they have there's information missing if I wanted to click on that and then go into the personal profile I can load all this things for or in behalf of the employee but right now I set up a self setup so I'm going to walk walk you through that process let me log out of QuickBooks really quick and I'm going to go into the email and show you what that looks like so here's what the the email looks like from the uh from from the employees perspective to do the selfs serve they're going to click right there where it says get set up okay so I'm going to go ahead and create my password so I'm going to create a brand new account click on create account and again this is from the employees perspective as they're creating their own Workforce account so they can do their own uh Employee Self-Service I'm going to click on next and then this is where Carlos would actually uh put all all his personal information here in um in uh and continue to set that up and this information is going to flow through QuickBooks Online which is which is pretty good and let's do this is one1 1985 and then they can continue to put all their personal information here so let's do 11155 6969 11155 6969 continue again we're making these up I don't know these areal Security numbers um then we're going to continue to go through the uh through the setup process so you start uh entering the information you can skip some of the stuff if you want um them to get paid like if the employees want to get paid via Direct Deposit they have to link their Bank in here and put their uh direct deposit information if they put routing number and then bank account number click on next okay perfect and then that's completely set up go to next and then next and then this is where they set up the W4 information on their own and they can put all the information they want this on their own okay and so that's basically self setup or self um self-guided setup from the employees perspective then we go to next and then we go to next and then we sign electronically so let's put here Carlos G see if it lets me do that just with short names like that there we go so now we have officially submitted our official employee information and what's also interesting about this is that this Workforce would actually allow the employee to view their paychecks historically be able to see their their documents like w to or maybe anything they want to share with their employer and then they can change their profile information if they got married if they had a new dependent they change addresses all that stuff can be done through here and you certainly one of my recommendations certainly recommend uh employees to to set up the workforce account because it'll make life so much easier and then you as an employer would just look so much better you know having a more professional sort of employee payroll portal okay so let me go back into the company file and go through the next step so let me log in into this company okay so I'm back in the company file I'm going to go back into payroll employees you will notice that cardos no longer has that exclamation mark if I click on Carlos all the information that Carlos loaded from the portal gets loaded here automatically and then here on the payment method notice that um you know they elected the employee elected for direct deposit if I click on edit here um I can I could change some of this information let me uh verify my identity here with my phone uh number here you'll notice anytime you send uh real sensitive information uh you're going to be noticing that that you're going to have to do um double authentication you can change uh that to payper check as well so even though even though the employee put direct deposit you can change that so that gives you a general idea on how to set up uh the employee so I'll go back to uh payroll and employees there's my employees so now I can um actually start doing my paycheck so we're done with that now the one thing I'm going to do in order to make this work correctly is I'm actually going to go into my payroll settings I'm going to change one tiny little thing just so I can continue with the demo and I'm going to uh I'm going to set up there's something called automated tax forms so right here it says automated tax forms generally you do not not want to uh turn this off you want QuickBooks to do this all automatically for you but because I'm doing this demo I don't want any actual payments to get triggered so I'm going to uncheck automate tax forms and then I'm going to put here that I'm going to be doing all the payments and stuff manually now again never never never I would recommend that you do this I'm doing this so I can actually um set this up to you know do the whole demo uh through here so let's click on done and now I'm going to run my payroll so let me click on run payroll and this is how you run paychecks notice that Carlos has a set salary uh so his paycheck is set up as a set salary Hector has 40 hours at $50 so that's um calculating the gross pay I can click on any of these manually and make changes since Hector has a I mean Carlos has a gross salary I can't change that but I can add some overtime at the equivalent of 325 I mean 32 45 an hour and that's based on how it calculates things and then under uh under Hector I could change and put here let's say 38 hours or something like that or maybe I could put 40 hours of regular and then 3 hours of overtime okay so that's how you get to modify these things then you're going to click on preview payroll you're going to see both paychecks are going to get calculated including the net pay so you get to actually preview what each page is going to look like I can click on any of the uh icons next to net pay if I actually want to see a preview of what the paycheck looks like so that's actually a really good um process to do before you run a you actually run payroll just double check that this stuff looks right maybe that it looks like what the preview check look like if you're moving from another accounting system that sort of thing and then up here on the top you're going to select which bank account the money is going to come out from so let's say this is going to be from my Chase payroll two 3 4 okay so generally you already have this set up in in your chart of accounts I have a separate video that explains chart of accounts so check that out on the description if you want to understand like what that means but anyway uh then after we uh preview our payroll details where we you can actually get this little uh sort of um a mock uh P payop information or mock report that shows you all the details of the payroll so once you are u in agreement that all this information is accurate we're going to click on submit payroll and then once payroll is submitted that means you are giving into it all the information that they need in order for them to uh pay taxes process taxes and file the forms I can click up print pay stops if I want to uh see what the pay stops look like pay stops only so these are not paychecks these are pay stops but it looks very much how a paycheck would look however I'm going to ex out of that if you're doing physical uh paychecks you're can actually grab your electronic checks put them in your printer and then click on um on close and that's going to generate each paycheck and put those uh check numbers next to next to each one okay um then we can click on download payroll reports click on export to Excel and you get a backup of all your payroll information in Excel you can you know pick and choose what data you want to see let me open that so you see what that looks like I'm going to bring that over here to this side and then zoom zoom the screen let's go to view Let's do let's say 200 or 200 so there's my um my insurance information here's my uh payroll detail information let me Zoom this in so we have all the payroll detail information including hours gross pay net pay I mean they're really awesome reports I have to just zoom into all of them and then here's all the uh net paychecks you get good idea more or less here's my uh tax payments that I've made I haven't made any tax payments yet and then here's my total cost of payroll including all my uh tax obligations so really Nifty Excel report uh you can have there let me close out of that and then click on later and then all my paychecks are generated so if it's direct deposit it'll take a couple days next day or or same day depending on the system you have in place to do the actual direct deposit um payments or you actually printed the checks uh and you gave them to your to your U to your employee so I'm going to go back into employees now I get to see um if I click on any particular employee I can actually click on paycheck list and see their paycheck history if I click on print this gives me the opportunity to print the checks if I haven't printed them yet and um and depending on the type of check that you have uh it could be uh in the top in the bottom or in the middle uh somewhere so you have to um you know set up your your uh your your printing to work based on the type of blank checks that you have uh to print okay so let's go back into uh payroll and overview and then now that we have done that we can now take a look at payroll taxes so when I click on payroll tax uh all my payroll taxes should now be accumulated here we can do one more thing which is go to setup and then finish setting up uh the payroll so let's go go to setup here let's go to settings payroll settings let's let's go to um federal tax and let's pick um uh let's put the Ein of the company so I'm going to put 8855 five okay just making up an EIN number here let's do one more and then click on Save okay and then under under the state I'm going to put here okay the number and let's say this is 2.7% and again you have to look at official documentation of um of all your taxation enti to see where all that stuff lands then I'm going to click on done and I should be able to go to payroll tax and the taxes should be calculated at this point and there there we go so here's my uh upcoming tax obligations so I owe $614 and it tells me right here when it's due um I have a set up for manual payroll so I would have to actually log into the government website and pay them directly you don't want to do that you want to do it through QuickBooks and that's what that automation process is for four I gu you want to go through the automation process but I had to do that turn it off so it shows up on the screen so here's all my obligations um if you it's automatic for you you don't have to worry about that but if you're actually going to pay you click on pay but in this particular case it's set up for manual pay so all I'm doing is I'm marking it paid in this case I'm marking it paid just by going into QuickBooks and marking it paid I can actually have it print a check or if I went into the website directly and paid then I don't have to print a check so recording the payment is for manual uh payment process only again if you had automated payroll which I don't because it's a sample video uh you don't have to do the actual payments themselves uh all all that stuff would be done for you and then under filings this is where you would see all your tax forms right now we haven't finished the quarter so we won't be able to see anything on the filings it's just going to give give you an error because there's nothing nothing there yet so you have to wait for the whole quarter to go through to then see your quarterly payments which you know it wasn't done for the purposes of this video okay so that's uh the process in a nutshell couple things to look at look at is reports inside QuickBook so I'm going to click on reports and then I'm going to go down to my payroll reports or my employee reports and then I can see time activities uh recent edited um uh time activities in the report section and dealing with time sheets time tracking the QuickBook Time app to track time on your phone it's an entirely different ball game content for an entirely different video so as I add these videos uh make sure you subscribe to the channel so you have access to those so I'm not going to cover time tracking in this specific video but I will put more links in the description that cover those sort of things so that's the employee side and if I scroll a little bit more here's going to be all my payroll reports so the typical reports that we run through here are going to be like a perro summary very typical go to payroll summary and you get to see uh the summary of what this looks like you can export this as an Excel or PDF and you get a summary of the payroll that we just run all the details all the numbers are going to be there if I go back into uh reports and then instead of payroll summary I'm going to do a liability report so I'm going to go to payroll tax liability and then here's all my information about the liabilities that I owe if I click on customize I can change certain things you can run payroll by location and I can also pick the date range of the liability report and of course export that in Excel or PDF there's all my payroll reports so I try to do uh payroll in a nutshell for you uh hopefully this is useful enough uh there's a lot more moving Parts like getting deep into the benefits what's taxable what's not taxable reimbursements I mean that's those are going to be topics to different videos all together together U I'm actually going to put in the description also videos to other YouTubers that have done detailed payroll videos that go into that level of detail for now this is the basics of how to run payroll and hopefully this is useful and now you know exactly what QuickBooks payroll does and the fact that it's not as dunting as people might think I think it's worth the 4580 80 125 a month that they charge for the core Services because this St could be a very tedious process if you were to do it manually through QuickBooks super easy and not painful at all as you can see through here anyway I hope this video was useful for you and I'll see you on the next one