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Index

0:20 Payroll Video starts

0:40 Imports of payroll from 3rd party to QBO

1:49 Seth can get you guys 30% payroll fee with signing up for QBO payroll

2:22 How to enter payroll in QBO example from Paychex

2:59 Where a lot of bookkeepers make mistakes

3:39 Pull out the information from your payroll and add into the template Seth made

4:10 Look for the company total payroll first add into Gross Pay

4:39 Check the withholdings, what's taken out of the employee's check

5:44 Check for deductions you need to account for

7:23 Explaining employer liabilities on where to enter in template

8:54 Record the template filled out in QBO as a check

9:14 Adding the payroll expenses in payroll salaries as account type

10:14 Adding the payroll liabilities in the next line for the check

11:03 Other deductions, you can break it down especially an employee advance

11:39 Run a balance sheet to see any employee advances look for details

12:02 Add Employee advances separate from the other line expenses

12:46 Any other deduction for example a garnishment, will go into another liability acct

14:15 Check needs to net out to Net Pay expense, always double check

14:29 What happens in the profit and loss?

15:00 Record tax payments

15:26 Recording another payment,

16:47 Check payroll liabilities are zeroed out

17:23 The detailed method, recording each and every paycheck.

19:13 You want to do the detailed method when clients like to see details

19:40 The more time it takes you to do it the more you charge


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