Learn how QuickPayroll works with Quicken
The first time you import QuickPayroll data to Quicken, QuickPayroll creates the following categories and accounts in Quicken to record your payroll expenses, liabilities, and assets:
• The Payroll Expenses category tracks company expenses such as gross pay, company-paid payroll taxes, and company-paid benefits for employees.
• The Payroll Liabilities account tracks what you owe, such as taxes, health insurance premiums, or 401(k) payments. As you create paychecks for each employee, the amount in this liability account increases. When you write a check to pay your liabilities, the amount in the account decreases. You can generate a report in QuickPayroll to see the breakdown of your payroll liabilities.
• The Payroll Assets account tracks any amounts owed to you by the employee, such as an advance or employee loan. When you add the loan to a paycheck, the amount in the Payroll Assets account increases. When you record the repayment of an advance or employee loan on a paycheck, the amount in the account decreases.
QuickPayroll sends summary, not detail, data to Quicken, and QuickPayroll sends your data to these accounts and categories, not to any existing payroll accounts and categories you may have used when doing payroll manually. All payroll data is stored in QuickPayroll, so you must use the reports in QuickPayroll to see your payroll detail. You must also back up your payroll data from within QuickPayroll, not Quicken.
New subscriptions to QuickPayroll are no longer available. You can choose from other Intuit Payroll Services that will help you run payroll.
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