When you start adding employee information, first you will create and assign paychecks to each employee. However, you can set up multiple paychecks for different teams or groups to manage the workforce. Once you’ve set up your payroll, you can now create paychecks for your employees. While creating paychecks, ensure that you are creating the right paycheck. Although, there are two different types of payroll like scheduled and unscheduled. This blog illustrates all the steps that will help you to create paychecks in QuickBooks. And also learn about these two types of payroll in detail. Let’s have a detailed look at this topic.
Types of Payroll
There are two types of Payroll namely Scheduled and Unscheduled. First of all, we will discuss:
Scheduled Payroll
Scheduled payroll is that payroll, where you can pay employees with the payment types that have been selected for them. As you will have a routine pay period and pay date based on the frequency you choose. However, in QB Online Payroll, you have to create and manage paychecks on a weekly, biweekly, semi-monthly, and monthly basis. While in QB Desktop Payroll, you have to create and manage paychecks on a weekly, biweekly, semi-monthly, monthly, quarterly, and at an annual pay period.
Unscheduled Payroll
Sometimes there are times when there is a need to issue a paycheck outside of your regular pay schedule. However, these unscheduled paychecks consist of bonuses, commission, or final paychecks.
Steps to create paychecks in QuickBooks
You can create paychecks in:
QB Online Payroll
Scheduled Payroll
- Firstly, click on the Workers or Payroll menu, and then select Employees.
- Then click on Run Payroll.
- If you are having more than one payroll schedule, then select the schedule.
- Choose or review the bank account that you want QuickBooks to track this payroll transaction.
- Now, select the employees you would like to pay.
- Next enter hours, compensation, memos, or any other necessary paycheck information.
- Click on the Preview Payroll >> Submit Payroll >> Finish Payroll.
Unscheduled Payroll
- First, open the Workers or Payroll menu, and then select Employees.
- To create a standalone paycheck, then select the dropdown, and select one of the following options.
- Choose As net pay or As gross pay.
- Fill up the additional information about taxes or paycheck calculations.
- Select or review the bank account you want QuickBooks to track this payroll transaction.
- Mark the employees you would like to pay.
- Mention the hours, compensation, memos, or any other paycheck information
- Click on the Preview payroll.
- And select Preview payroll details, and click on Submit payroll.
- After confirming the amounts and payment methods, click on Finish Payroll.
QB Desktop Payroll
- First of all, click on Employees >> Pay Employees >> select check types like scheduled, unscheduled, termination check.
- Now, select the suitable schedule in the Create Paychecks section,
- After that, click on Start schedule Payroll.
- Hence, check the Pay Period Ends date, Check Date, and Bank Account the money is withdrawn from.
- To see everyone’s paycheck details, click on Open Paycheck Detail.
- Hit the Save & Next button to go to the next employee,
- Or select Save & Close to return to the Enter Payroll Information window.
- When the checks are ready to create, then move further.
- Review the Check/Direct Deposit printing options.
- Check the amounts for each employee, and then select Create Paychecks.
- Print paychecks and print pay stubs now
- Or you can print it later if required.
In the end
By following the above steps, you can easily create paychecks in QuickBooks versions like Online, or Desktop. From the above statements, it is clear that there are two types of payroll such as Scheduled or Unscheduled. You can create paychecks in scheduled as well as unscheduled payroll. If you have any doubts, then feel free to dial our toll-free QuickBooks Payroll Phone Number and get support from our experts.