Accounting
Managing the employee payroll in a timely is the foremost concern of every successful business for better productivity. However, many organizations find the task of creating and processing payroll a bit challenging as it is a time-consuming activity. So, QuickBooks Payroll service is there to help you take care of all the payroll and accounting concerns. But, to run the payroll services uninterrupted, an authenticated and reliable QuickBooks Online Payroll subscription is necessary. To purchase the subscription, you can check the payroll plans and then pick the one that fits best according to the budget. Continue reading this post to understand the payroll subscription better and manage the payroll smoothly.
Want to get complete details regarding the activation of a QuickBooks Online payroll subscription? In that scenario, you must have a conversation with our QB experts and fix all issues immediately.
What is the Need for QuickBooks Online Payroll Subscription?
QuickBooks Online Payroll is a subscription-based service that lets employers prepare the employee’s payroll timely without making any mistakes. As it is a subscription-based service, it is mandatory to have a valid and authenticated QuickBooks Online payroll subscription to get a better payroll experience. However, there are numerous other benefits of having an active payroll subscription as follows:
- The Updated Payroll subscription will let you access the top-notch features of QBO Payroll that help with calculating employee salaries.
- Moreover, it becomes much more convenient for the employees to calculate the withheld payroll taxes without further delays accurately.
- An active payroll subscription will help you receive payroll updates promptly so that you can complete the payroll without any discrepancies.
Here’s How to Cancel Payroll Subscription in QuickBooks Online Smoothly
At times, the users need to cancel payroll subscriptions in QuickBooks Online when they don’t have to run the payroll services any longer. However, go through the stepwise instructions described below for the hassle-free cancellation of payroll subscription in the QBO application.
- To commence with, navigate to the Settings menu and then choose the Accounts and Settings menu.
- Afterward, you must select the Billing and Subscription option to move ahead.
- Next, you need to browse to the Payroll Section and then tap the highlighted Cancel option.
- Now, the users must complete the entire Cancellation Form properly without missing any important details.
- Once you are done adding all the relevant Payroll details to the Form, cross-check them and save them to finalize the cancellation process.
Let’s walk through a Procedure to Manually Enter Payroll Paychecks in QuickBooks Online
In this blog section, we describe the complete process of manually entering payroll paychecks in QuickBooks Online.
Phase 1: Generation of Monitoring the Accounts Manually
If you haven’t constructed new accounts in Charts of Accounts earlier to monitor payroll liabilities and expenses, then prepare one. Once the charts of accounts are set up properly, all you require is to establish the following expense accounts. Then, go with Expense as the Account type.
- Add the Wages to the section next to Payroll Expenses.
- After this, you must pick the taxes by clicking the drop-down menu for the Payroll Expenses.
Moreover, it is necessary to start preparing these liability accounts and then simply opt for Liabilities as the Account Type.
- Payroll Liabilities: Federal Taxes (941/944)
- Payroll Liabilities: Federal Unemployment (940)
- Payroll Liabilities: [State] SUI/ETT
- Payroll Liabilities: [State] PIT/SDI
Phase 2: Inserting of the Payroll Paychecks to Your QuickBooks Online Account
When you have made the payment to the employees outside the QuickBooks, you are required to generate a journal entry. For that, the users must perform the steps outlined below to accomplish the task.
- Before beginning the process, you must get your employee’s payroll or pay stubs report through your QuickBooks Payroll Service.
- After this, you need to choose the + New tab and the Journal Entry tab to proceed to the next step.
- Now, beneath the column of Journal Date, you must include the appropriate paycheck date in the respective text field.
- However, if you require to monitor the paycheck number, then include them within the Journal no field.
- Later on, you can utilize the details from your payroll report to construct a new journal entry. In case you have paid more than one employee for the pay period, you must integrate all of the paychecks in one single journal entry. Alternatively, you may also have the option to construct a distinct journal entry for every single employee to get more in-depth details.
Including the Gross Wages
- To input the gross wages, you must opt for the Payroll Expenses: Wages option in the account.
- After this, you need to include the amount and name it as a Debit.
Inserting Employer Payroll Taxes
- To include the Employer Payroll Taxes, what you require is to choose the highlighted Payroll Expenses as Taxes for the account.
- Thereon, you need to input the amount as a debit into the required text field.
Inserting Taxes Paid Towards 941 or 944 Taxes
- In the initial phase, you must go with the Payroll Liabilities: Federal Taxes (941/944) for the account.
- Afterward, insert the amount as a credit into the required text field.
Specify State Unemployment Insurance Taxes
- To commence with, move towards the Payroll Liabilities: [State] SUI/ETT Liability for the account.
- Thereon, you need to include the amount in the credit form in the respective text field.
Adding Up Of State Income Taxes
- To add up the State Income Taxes, make sure that the Payroll Liabilities are chosen as [State] PIT/SDI for the account.
- When you are done, then all you need is to simply include the amount as a credit in the text field.
Including the Amount of Net Wages
- In the initial phase, you need to pick the checking account from the one you are paying of your employees.
- After this, despite of combining them, you must input every individual’s paycheck amount on separate lines. Later on, make sure that the amounts is marked as credits in that column.
- Once you have added all the amounts properly into the debits and credit columns, move to the Save button to bring up the new changes into action.
Mentioning of the Federal Unemployment Taxes (FUTA)
- In the first place, you must choose the Payroll Liabilities as the Federal Unemployment (940) for the account.
- Once you have entered the amount appropriately, insert the amount as a credit into the respective text field.
A Quick Review on How to Add Payroll Subscription to QuickBooks Online
The users can add the payroll subscription to the QuickBooks Online account and then perform the payroll-related tasks smoothly. For the detailed procedure, you must have a look at the process described below closely.
- The first and foremost step is to access the Workers menu and simply choose the highlighted Employees tab.
- Afterward, what you require is to choose the Get Started or Set Up Payroll option.
- Soon after this, you need to pick the suitable type of service that you wish to run from the list of options available according to your preference.
- Ultimately, perform as per the guidelines presented on the computer screen for the successful addition of the payroll subscription to the QBO account.
A Detailed Insight into QuickBooks Online Payroll Subscription Cost
The users must log into the QuickBooks Online Accountant to link the QuickBooks Online Payroll subscription which is suitable for your client. So, below we have provided you with a complete breakdown of the pricing structure which will let you understand about the cost in detail.
QuickBooks Payroll Core + Simple Start Edition
To purchase this QuickBooks edition, you must pay $42 monthly charges and get a 50% discount for up to 3 months. In addition, you must pay an extra $6 per employee every month to improve your payroll experience.
QuickBooks Payroll Core + Essentials
QuickBooks Payroll Core + Essentials users have to pay $57 monthly charges and receive up to a 50% discount for 3 months. Despite this, you are must pay $6 for every employee monthly to manage payroll-related tasks smoothly.
QuickBooks Payroll Premium + Plus
Users have to pay $92 monthly charges for the QuickBooks Payroll Premium edition and avail of a discount of up to 50% for the first three months. Besides this, you need to pay $9 extra monthly for every single employee you wish to track the payroll.
A Detailed Procedure to Reactivate QuickBooks Online Payroll Subscriptions
For instance, if you are already a QuickBooks Payroll customer, you need to spot where you can let it off, or if you are starting from scratch to reactive the payroll subscription,
Phase 1: Reactivation of the QuickBooks Online Payroll Smoothly
Before proceeding, it is necessary to pick the payroll service listed below and enable the payroll service option.
Users Accessing QuickBooks Online Payroll Subscription
- In the first place, you must browse to the Settings menu and, from there, go to the Subscriptions and Billing menu.
- Afterward, choose the Resubscribe option for payroll and then cross-check the Subscription Summary.
- Next, input the relevant payment details and payment method into the respective text fields.
- At last, when you are all set with the above steps, you need to move to the Resubscribe option.
Read More- QuickBooks Desktop Payroll 2025: Unveiling Exclusive Features
Users Working on QuickBooks Desktop Payroll Enhanced or Basic Reactivation Via Company File
- In the initial phase, open up the QuickBooks Desktop company file and proceed to the Employees menu.
- After this, from the drop-down menu list of the Employees menu, browse to the My Payroll Service option.
- Thereon, proceed to the Account/Billing Info section and then log in to the Intuit account using the proper login details. With this, you will discover that the QuickBooks Account page will emerge on your computer screen.
- Now, below the Status section, you must tap the Resubscribe option. Then, use the on-screen prompts to reactivate the payroll service successfully.
Use the Intuit Account for the Reactivation
- In the initial phase, logging into the Intuit account with the proper administrative rights is mandatory.
- Soon after this, you need to look right beneath the Status column and then opt for the Resubscribe option.
- Now, you must follow the instructions on the screen to successfully complete the reactivation process.
Phase 2: Cross-Checking of the Payroll Data Thoroughly
Once you roll back to the payroll service, all you need to do is run QuickBooks Payroll via payroll setup again. After this, you can simply verify the payroll data, including employees and tax setup.
Functions to Perform By QuickBooks Online Payroll
- In the initial stage, browse to the Payroll option, followed by the Employees tab.
- After this, you must go through every employee one by one and verify the details, i.e., deductions, W-4, sick/vacation, etc.
- When you are done, it is advised to select the Settings option and then click Payroll Settings to check the tax rates accurately.
Instructions to Apply By QuickBooks Desktop Payroll Users
- In the first place, switch to the Employees menu and from there go to the Employee Center option.
- Afterwards, in the next phase, move to the Employee tab and go through every employee accurately. Once you are done, make sure that you have added the details accurately, which comprise Deductions, W-4 forms, sick/vacation, etc.
- When you have implemented the above steps properly, move to the Lists menu and then switch to the Payroll Item Lists to verify the tax payroll items appropriately.
Which QuickBooks Online Payroll Subscription Levels Include QuickBooks Time?
The QuickBooks Time tracking feature comes with the QuickBooks Online Payroll Premium and Elite subscription services. With the help of this time tracking feature, you can easily monitor the employees’ tasks and schedules. Then, you can send immediate reminders to the employees regarding the same, which helps them get a clear picture of the time invested by the employees in an organization.
Summarizing the Above!!
We hope that this guide has provided you with in-depth details about the QuickBooks Online Payroll Subscription, which will help you process payroll on time. However, if you still have any further queries regarding the payroll subscription, feel free to connect with our QB professionals for quick resolution.
