❗The content presented here is sourced directly from Udemy platform. For comprehensive course details, including enrollment information, simply click on the 'Go to class' link on our website.
Updated in [August 31st, 2023]
Skills and Knowledge:
At the end of this course, you will have acquired the skills and knowledge to:
- List and describe payroll related legislation
- Enter new employee information into QuickBooks and describe where to get the data necessary to add a new employee
- Set up and calculate Federal Income Tax (FIT)
- Describe the Federal Income Contribution Act and its components
- Set up and calculate social security
- Set up and calculate Medicare
- Set up and calculate Federal Unemployment
- Describe and calculate employer payroll taxes
- Generate payroll journal entries from payroll reports
- Generate and analyze Form 941 Employer's Quarterly Federal Tax Return
- Generate and analyze Form 940 Employer's Annual Federal Unemployment (FUTA) Tax Return
- Generate and analyze Forms W-2 & W-3
- Reconciling year end payroll tax forms
- Generate and analyze a payroll register and payroll reports
- Describe mandatory and voluntary deductions and how they are entered into QuickBooks Online
- List and describe types of retirement plans and how to set them up in QuickBooks Online
- Enter comprehensive payroll problem into QuickBooks Online
- Setup paid payroll in QuickBooks Online
- Process payroll in QuickBooks Online
Professional Growth:
This course on QuickBooks Payroll - QuickBooks Online contributes to professional growth by providing individuals with the knowledge and skills necessary to effectively process payroll for a small business using QuickBooks Online. By completing this course, individuals will be able to:
1. Understand and comply with payroll-related legislation: The course covers various payroll-related legislation, ensuring that individuals are aware of the legal requirements and can accurately calculate and process payroll taxes.
2. Efficiently enter new employee information: Participants will learn how to enter new employee information into QuickBooks Online, including the necessary data required for accurate payroll processing.
3. Set up and calculate various payroll components: The course covers the setup and calculation of Federal Income Tax (FIT), Social Security, Medicare, and Federal Unemployment. This knowledge enables individuals to accurately calculate and process payroll for employees.
4. Generate and analyze payroll tax forms: Participants will learn how to generate and analyze important payroll tax forms such as Form 941 (Employer's Quarterly Federal Tax Return), Form 940 (Employer's Annual Federal Unemployment Tax Return), and Forms W-2 & W-3. This ensures compliance with tax regulations and facilitates accurate reporting.
5. Reconcile year-end payroll tax forms: The course covers the process of reconciling year-end payroll tax forms, ensuring accuracy and compliance with tax regulations.
6. Generate payroll reports and journal entries: Individuals will learn how to generate payroll reports and journal entries from payroll data, providing valuable insights into the financial performance of the business.
7. Understand and enter mandatory and voluntary deductions: The course covers the different types of mandatory and voluntary deductions and how to enter them into QuickBooks Online. This knowledge ensures accurate payroll calculations and deductions.
8. Set up retirement plans in QuickBooks Online: Participants will learn how to set up retirement plans in QuickBooks Online and understand how these plans impact net income and payroll taxes.
9. Process payroll using QuickBooks Online: The course provides hands-on experience in processing payroll using QuickBooks Online, allowing individuals to apply their knowledge and skills in a practical setting.
By acquiring these skills and knowledge, individuals can enhance their professional capabilities in payroll processing, bookkeeping, accounting, and business management. This can lead to increased job opportunities, career advancement, and improved efficiency in managing payroll for small businesses.
Further Education:
This course is suitable for preparing for further education. It covers a wide range of topics related to payroll processing in QuickBooks Online, including payroll legislation, employee information entry, tax calculations, payroll forms generation and analysis, payroll journal entries, deductions, retirement plans, and comprehensive payroll problem-solving. This knowledge and skills gained from this course can be valuable for further education in accounting, bookkeeping, or business administration.
