Depending on your business, you’ll need most of the information listed below. You can usually find it using your own records, previous payroll providers (if applicable), or from federal and state agencies.
Here’s what you need for your payroll setup checklist with most payroll applications :
Start with your company
- Business name, address, and phone number
- Tax filing name and address (if you use a different name and address for filing with the IRS)
Add your employees
- Basic info: legal name, birthday, hire date, home address, email address, and tax withholding (you can find this on their I-9 and W-4 forms)
- Earnings: Pay rate (hourly, salary, etc.) and pay schedule (weekly, biweekly, etc.)
- Benefits & deductions: Any health insurance, retirement and bonuses
- Direct deposit information
Enter tax information
- Federal Employer Identification Number (FEIN) and deposit schedule
- State tax account numbers and withholding deposit schedule, and state unemployment insurance rate (Tip: This may not required for setup, but you’ll need it before you file taxes)
Connect your bank
- Company bank account for direct deposit or electronic tax payments
- Principal Officer legal name, social security number, birthday, and home address
E-sign forms
- Your Principal Officer (someone who can legally sign forms for your company) will e-sign forms transferring payroll liability. You’ll need their legal name, social security number, birthday, and home address for this step.
Provide prior payroll info
If you’ve already paid employees this calendar year, you’ll likely need to provide the amounts so your new paychecks can be calculated correctly and complete your tax forms.
- Total payment amounts for each employee you’ve paid this year (including quarterly and year-to-date totals)
- Copies or summary of all payroll tax payments you’ve made this year
This article was produced by the QuickBooks Resource Center and syndicated by MediaFeed.org.
Featured Image Credit: iStock/jacoblund.
