Use our Year-End Center as a guide to help you prepare and perform the most common tasks that you or your accountant may need to complete for a smooth year end. 

Remember to check back regularly for updated news, alerts and important tax information.

The Basics: Intuit Online Payroll

Step 1: Order Supplies Well Ahead Of Time

To buy supplies from IntuitMarket

To Buy Supplies from IntuitMarket

• Checks: Purchase voucher checks and envelopes from IntuitMarket

  Remember to buy voucher checks (one check per page) and NOT standard checks (three checks per page).

• W-2 Forms: The IRS requires that you print the employee copies of Forms W-2 on blank, perforated paper.
•  Purchase W-2 forms from IntuitMarket

Step 2: Handle Bonuses and Paid time Off Balances Correctly.

Bonus Checks

There are two ways to create a bonus check. The easiest method to use depends on whether you want to award the employee a particular pre-tax (gross) amount, or a particular after-tax (net) amount.

• To give a bonus based on a pre-tax (gross) amount

          Include the bonus on the employee's next regular paycheck:

1. If you don't already have a Bonus payment type in your company payroll, set it up from the Compensation List. How?
2. Then when you preview the next paycheck for this employee (How do I create one paycheck and preview it?), click Add Payment or Deduction from the bottom of the paycheck and select the Bonus payment.
3. In the window that opens, enter the amount of the bonus in the Current box.

Intuit Online Payroll will treat the bonus as compensation and calculate the deductions.

To give a bonus based on an after-tax (net) amount

Create a separate check just for the bonus. To do so, gross up a paycheck. How do I gross up a paycheck?

Paid Time Off Adjustments 

You may occasionally want to reward an employee with an extra amount of paid time off, or you may need to subtract from an employee's paid time off balance.

For example, your policy may be to reset sick balances to zero every January 1. In that case, if an employee has a sick balance of 40:00, you can enter -40:00 to reset the balance to zero. Here's how:

1. Click the Settings tab and then click Employees
2. Select an employee and click Edit.
3. In the Paid Time off section, click Edit.
4. If the employee already has a balance, you can click Adjust balance.
5. To add hours, enter a positive number of hours; to subtract hours, enter a negative number. Then, enter the date you want this change to take effect.
6. In the Reason field, enter any explanation you want.

Step 3: File Tax Forms

• Have your accountant review your information 

The steps you've followed previously in this Year-End Guide should give you the data you need to file your taxes.

Your accountant will want to review your financial reports. You can print them out, or, better yet, set up your accountant as a user of your company. This will allow your accountant to view the reports online and even make changes directly.  Click here for instructions to Add Your Accountant as a User.

• File Forms 941/944 and 940 with the IRS by January 31

By the end of January, you need to prepare, print, and mail Forms 941/944 and 940 to the IRS.

For details on how to do this, check out the links below:

• Preparing payroll forms
• What is Form 941?
• What is Form 944?
• What is Form 940?

• File State Payroll Forms

The forms you are required to file are determined by the state in which you file and your type of business.

• For selected states, you can prepare payroll forms within Intuit Online Payroll. How do I prepare payroll forms in Intuit Online Payroll?
  Payroll tax forms for some states are not available. If you need a tax form for a state that is not available in Intuit Online Payroll, contact the tax agency for that state. Are payroll forms for my state available?
• For a list of links to state government websites with other useful information, you can go to the IRS website.
• For help determining out the amounts to use in state payroll forms, run the State Tax Summary report and the Payroll Summary Totals report.

Remember you can export a report to Excel if you need to perform calculations on report amounts. How?

About the Tax Forms Center

Intuit Online Payroll conveniently shows you when tax forms are due in the Tax Forms Center (click the Tax Forms tab). Here are some common questions about this page:

• How do I remove forms that I don't need to file from the Forms Due Soon table?
  Forms are displayed in the Forms Due Soon table when their due date is within the next 30 days. If the form is not prepared within the 30 days, Intuit Online Payroll automatically removes it from the table.
• I see two identical forms displayed in the Forms Due Soon table. Why?
  Multiple forms are displayed for states that offer multiple filing options for example, monthly and quarterly). Simply choose the one you want to prepare; Intuit Online Payroll automatically removes any unfiled forms after they are past due.

For additional guidance, contact your state tax agency and your professional tax advisor.

Mail Forms W-2 to Employees by February 1

By the end of January, you need to prepare, print, and mail Forms W-2 to all your employees who worked for you during the previous year.

See

• Preparing payroll forms
• What is Form W-2?

File Forms W-2 and W-3 with the SSA by March 1st if filing by paper; March 31st if filing electronically

See

• Preparing payroll forms
• What is Form W-2?
• What is Form W-3?

The information contained in the Intuit QuickBooks Payroll Year-End Center is meant to provide general information about the payroll process and is not intended to provide tax or legal advice. Always consult your tax professional when preparing tax documents.