When Form 8655 Payroll 2024

In this presentation, we will take a look at payroll tax forms after running a plain payroll for one employee to see the effect on the forms W2 and 941. Then, we'll add levels of complexity into our payroll and see the changes as we go within QuickBooks. For more accounting information and accounting courses, visit our website at accountinginstruction.info. Here we are on the home page. We have the open windows open. You can open the open windows by going into the list dropdown and choosing the open windows list. Now, we are going to take a look at the reports and forms for payroll. We ran an easy payroll for one employee, nothing special to it. Let's link and see what happens to our reports from that. So, we're going to go to the reports dropdown. We'll go to employee and payroll and select the payroll summary report. This is the go-to report for payroll within QuickBooks. We're going to change the dates from 101/1/8 to 12/31/1/8. In the payroll summary report, we can see the pay stub-like information for our one employee. It includes the hourly pay, overtime, gross pay, deductions, and net pay. We also have the employee's taxes, which are paid over and above the gross pay. The total of these taxes equals the total pay for the employee. If we had multiple employees, the total would differ. Now, let's take a look at what would happen if we were to process the quarterly reports, the 941 and the yearly report, the W2 and W3. To do that, we can go to the employees tab at the top and scroll down to the payroll tax forms. Here, we can process the payroll tax forms, create W2 e-file, and view tax form history. In the process payroll tax forms section,...