Top 5- Employees & Payroll

 

Hello QuickBooks Community! We are back with more trending questions and answers. This time around, we will be sharing the top 5 questions asked on the topic of Employees & Payroll. We will specifically dive into questions pertaining to 941 forms, direct deposits, & recording loans.

 

If this is something you’re looking to learn more about, make sure to keep on reading!

 

1. How do I find copies of all forms 941 filed last year? QuickBooks only shows one archived form from ...

Thanks for asking!

 

To start, let's access your QuickBooks account using a private browser. This step disables the cache from saving your browsing history, which also affects its performance. Here are the keyboard shortcuts:

• Google Chrome: Ctrl + Shift + N
• MS Edge and Firefox: Ctrl + Shift + P
• Safari: Command + Shift + N

 

Once done, let's follow the steps below to view your Form 941 and ensure you've selected the correct filter:

1. Go to Taxes, then Payroll Tax.
2. Under Forms, select Quarterly Forms or View and Print Archived Forms to see the archived ones from prior periods.
3. Tap the 941 link.
4. Click Preview, then download the form in PDF format or print it.

 

See these snippets below for your reference:

 

If this works, you’ll need to clear the browser's cache. By doing this, it’ll remove the built-up cache in your default browser, so you can start with a clean slate. You can also use other supported browsers as alternatives.

 

If you're still unable to see all of them, I'd suggest getting in touch with our QuickBooks Online Support. They can pull up your account and help you get the other quarter of your 941 forms.

 

See this article for more information about viewing tax payments and tax forms: Access payroll tax forms and tax payments.

 

You'll want to read about filing federal forms in QuickBooks Online. These will provide you with tips on how to file them before their due dates as well as managing differences:

• File quarterly tax forms.
• Why do I occasionally notice penny rounding differences?

 

2. How do I print 941 for a audit?

Great question!

 

If we file your payroll forms, you can view and print copies if you need them. Let me show you how: 

1. Log in to your QuickBooks Online account.
2. Go to the Taxes menu and then choose the Payroll Tax tab.
3. Click the Forms tab.
4. Select the 941 forms.
5. Lastly, click the print option. 

 

For more details, please see this article: View and print payroll tax forms.

 

Additionally, you can also run the Tax & Wage Summary Report to give you a snapshot of your employee's taxable wages. 

 

Finally, learn how to pay or file state and federal payroll taxes online.

 

3. How do I Electronically file form 941 in QuickBooks Desktop?

The 94X stated in this thread refers to 941, 940, and 940 forms. QuickBooks generates these forms for you so you can file them to the IRS.

 

Let me guide you through on how to set up 941 for e-filing:

1. Go to the Employees menu, then select Payroll Center.
2. Select the Payroll tab, the File forms.
3. Click Change Filing Method at the bottom under the Other Activities section.

 

4. Select Federal Form 941 from the list, then click Edit.

5. Select E-file, then click Finish.

 

Once done, here's how to e-file the form:

1. Click the Employees menu.
2. Select Payroll Tax Forms & W-2s, then Process Payroll Forms.
3. Click the Payroll tab, then File forms.
4. Select the 941 form from the list.
5. Click Create Form.
6. Select the form filing period, then click OK.

 

1. Review the form, then correct any errors when necessary.
2. Click the Submit Form button.
3. Click E-file and follow on-screen instructions.

 

To learn more about e-filing in QuickBooks Desktop, check out to this link: E-file 940, 941, and 944 tax forms.

 

I also recommend downloading the latest tax table update every time you pay your employees, or at least every 45 days. This is to ensure your payroll has accurate information.

 

4. How do I access my direct deposit authorization forms for my employees?  

Let me show you how!

 

If you’re trying to access the direct deposit authorization form for your employees, just visit the Payroll tax section in QuickBooks Online (QBO). This way, your employees can start to fill out and sign.

Here’s how:

1. Go to Taxes and select Payroll Tax.
2. Choose Employee Setup.
3. Select Bank Verification, then View and Print.

 

Also, you can directly use this information to print an authorization form for direct deposit. Then refer to this guide to enter the employee's bank account information in QBO: Set up direct deposit for employees.

Once everything is set up, you can visit these resources to learn more on how to process payroll and to make sure your employees get paid on time when there’s a holiday:

• How do federal holidays affect my direct deposit?
• Create and run your payroll

 

5. How do I record a loan made to an employee?

Let me walk you through it!

 

We can set up an Other Current Asset account to record the loan you've made to an employee. Here's how:

 

1. Go to Accounting on the left panel.
2. Within the Chart of Accounts tab, click the New button at the upper-right corner.
3. Choose Other Current Assets in the Account Type and select Employee Cash Advances in the Detail Type.
4. Then, click Save and Close.
   
    
    

   

 

Once done, you can create a deduction item for the repayment. If you don't want to deduct the loan repayment to your employee's paycheck, you can create a deposit for it.

 

Also, you can check this article for additional details: Set up a loan in QuickBooks Online. Also, I'll add some articles for additional details about handling accounts in the COA:

• Learn how to delete bank, income, and other types of accounts from your chart of accounts.
• Move your chart of accounts to QuickBooks Online. 

 

That’s all we have for you this month! We hope you found this Q&A insightful. And as always, please feel free to ask any questions you may  have here in the QuickBooks Community. 

See you next month!