Whoever doesn’t want to avail of new & advanced features to improve business growth?
Almost everyone adopts different ways to enhance his business widely. If you’re a regular QuickBooks user then you must know about QuickBooks Desktop Payroll which has immense importance to you and your business. It is a cloud-based payroll software that allows businesses to pay employees, file payroll taxes, and also manage employee benefits or HR in one place. This software saves your precious hours by automatically calculating, filing, and paying federal or state payroll taxes. In this write-up, you will learn how to get the QuickBooks Desktop payroll update 2022 along with all the exclusive features that you get after updating the QuickBooks software.
Once you get set up, you can automatically run payroll for your employees. Or, if you don’t want to go with the automated option, you can run payroll manually from your computer or through the mobile app. Moreover, you can customize reports to include deductions and contributions, several work sites, and paid time off. So, let’s dig deep into this blog to know all the various facts related to QuickBooks Desktop Payroll Service.
Things to consider before downloading the QuickBooks Desktop Payroll Update 2022
Before moving ahead to download QuickBooks Payroll update 2022, you need to ensure that you have:
- An active QuickBooks Payroll subscription
- Updated QuickBooks release version.
- Last but not least, you must have a proper internet connection.
Let’s see how many new and exciting features are included in the latest QuickBooks Desktop Payroll Update 2022
In this new update, QuickBooks Payroll has come up with a lot of exclusive features that will surely help you to take your business to the next level. To get a better insight about the same, have a look at the pointers given below:
1. Payroll Updates
This new feature includes payroll updates that have the most current and accurate rates and calculations for supported states and federal tax tables, payroll tax forms, and e-file or pay options.
2. Create Paychecks
In this latest update, you have an opportunity to create paychecks with automatic tax calculations. Also, you can print and hand them over to your employees. Note: Nominal usage fee may apply.
3. Direct Deposit for Employees
Now, you can deposit your employee’s payroll directly to your employee’s checking or savings bank account.
Note: Nominal per-transaction and per-payroll transmission fees can apply.
4. Federal Forms
QuickBooks Desktop automatically fills in the newest W-2, 94x Forms, 1099/1086 Form, and other Federal Forms with QuickBooks Payroll Standard and Enhanced Payroll. With the help of a few clicks, you can print the forms in QuickBooks Desktop and then mail them to the most appropriate federal agencies. Quickbooks simplifies payments and files the taxes for you.
5. Direct Deposit for 1099 Contractors
With the help of Direct Deposit for 1099 Contractors, all the QuickBooks Payroll Customers are able to send direct deposits to 1099 independent Contractors.
Note: Nominal per-check fee may apply.
QuickBooks Workforce is a website that makes it easy for employers to give employees 24/7 online access. QuickBooks Workforce requires employers to print, email, or send their pay stubs every payday. The employee only needs to sign in to their QuickBooks Workforce account and they’ll have all current or prior pay stubs.
7. State Forms
With Enhanced Payroll, QuickBooks Desktop automatically guides you through the process of filling in State Tax forms and staying in compliance with your State regulations. With Assisted Payroll, Intuit does all the work for you and files your taxes.
8. E-file and E-pay
You can electronically file your state and federal forms in Quickbooks. Instead of printing and mailing the forms, send them over the internet. Also, you can set your upcoming tax payments to be paid via E-Pay and conveniently choose an automatic payment plan so that you don’t need to face any difficulty while playing the appropriate taxes.
9. Intuit Workers’ comp Payment Service
The workers’ Compensation Payment Service feature automatically pays your Workers’ Comp premiums every pay period based on your actual payroll data. You don’t need to pay too much, too little, or a late fee for forgetting to send a payment.
Note: All the manual setup or feature in QuickBooks is available only to QuickBooks Desktop Payroll Enhanced/ Enhanced for Accountants and Assisted subscribers.
10. No Tax Penalties guaranteed
If your payroll is accurate, on time, and you’ve made sufficient deposits into our Quickbooks Desktop Payroll account, you won’t have to pay the penalties.
11. Free Expert Assistance
Intuit provides the following resources to help the users in running their payroll, paying taxes, and filling out forms:
- Payroll Help Website
- Payroll Tax Compliance
- Payroll User Community
- Payroll Year-End Center
Also, Intuit offers free expert help to the latest subscribers of Intuit Payroll Services.
12. After the Fact Payroll
QuickBooks Desktop After-the-fact payroll allows accountants to efficiently enter, review and adjust after-the-fact paychecks all from a single spreadsheet-style screen.
13. Create tax forms on Standard or Basic Payroll for Clients
This is another feature of QuickBooks Payroll wherein the federal and state tax forms are produced for clients with Basic or Standard Payroll subscriptions.
14. Client-ready payroll reports
Using client-ready reports, accountants can easily generate professional, paper records of each payroll run and analyze the payroll costs of their clients at the end of the financial reporting periods (monthly, quarterly, and yearly).
15. Filling as a Reporting Agent
QuickBooks Desktop offers the ability to file Federal forms as a certified e-file service provider.
16. Auto-Fill option for Paid Preparer Information
In this feature, you can set up QuickBooks Desktop to automatically fill in the federal forms with the paid preparer’s information.
How to do QuickBooks Desktop Payroll Update to the latest release?
It is necessary for all QuickBooks users to keep their software up-to-date on a regular basis. This will prevent you from unwanted bugs and errors. To do so, implement the steps described below:-
- Firstly, you have to close your company files and QuickBooks.
- Now, open the Windows Start menu.
- Look for QuickBooks Desktop.
- Hit a right-click on the icon and select Run as Administrator.
- On the No Company Open screen, navigate to the Help menu and choose the Update QuickBooks Desktop option.
- After that, head to the options tab, select Mark All, and then click Save.
- Hover over the Update Now tab and hit the Reset Update checkbox.
- Once you’re ready, click Get Updates.
- After finishing the update, you must close and reopen the QuickBooks Desktop.
- Then, press Yes to install the updates.
- When the installation is successfully completed, restart your system.
Steps to download the latest tax table in QuickBooks Desktop
All You need to go through the below-listed actions in order to download the most recent tax table on the QuickBooks Desktop. So, let’s get started:
Note: Since January 2021, disk delivery was discontinued. So, you can no longer update your tax tables through CD.
- The very first step is to select Employees then click Get Payroll Updates.
- Choose the Download Entire Update checkbox.
- Tap on Download Latest Update. An information window starts appearing when the download is complete.
- If the status is shown as deactivated or not active then continue to the next step.
- In the QuickBooks, tap on the Help menu option.
- From the Options, you need to click on the Activate option.
- After this, check the registration status and also the version of your software that is updated.
- Now, you can smoothly work on the updated QuickBooks Payroll 2022.
What to do to update SUI (State Unemployment Insurance) Rate?
In QuickBooks Desktop Payroll, your SUI rate is not a part of the average tax table updates. You have to update it manually. Let’s see how:
Note: You must have to enter your current unemployment rate for the current and any future quarters of this calendar year. You can add the rate for next year’s first quarter between July and December.
- Navigate to the Lists menu and choose Payroll Item List.
- Make a double-click (state abbreviation)- unemployment company
- Press Next until you reach the page Company tax rates.
- Make sure you enter the correct rates for each quarter.
- At last, click Next and then Finish.
If you have Surcharges or Assessments
If you have a surcharge or assessment for state unemployment then you may need to update additional rates in QuickBooks:
- Head to the Lists menu then click on Payroll Item List.
- Hit a double-click on the State Surcharge item.
- Click Next and follow the on-screen prompts.
- On the Company Tax Rate Page, enter the rate as a percentage.
Hopefully, the above-stated information related to QuickBooks Desktop Payroll Update 2022 would be helpful for you, and just by executing all the steps in a given sequence, you can do your invoicing, bookkeeping, and billing all in one place. Also, you would be able to track sales and expenses, accept payments, scan receipts and be ready for the tax time. In case, you get stuck anywhere in the middle, it is recommended to get in touch with QuickBooks helpdesk members in case you’re unable to end up such tasks on your own.
How can I check which QuickBooks Desktop Payroll Update version I have right now?
To verify the latest QuickBooks payroll update, follow the steps inclined below:-
1. Navigate to Employees, then click get Payroll Updates.
2. Check the number adjacent to “you are using tax table version”.
3. To identify if it’s the correct version, view the latest payroll news and updates.
4. For getting more details on the tax table version, select Payroll Update info.
QuickBooks Desktop Payroll Update 2022 is the latest update that is required if you want more enhanced features that help you in making your work more easily.
Is there a limit to the number of employees that I can add to QuickBooks Desktop Payroll Update 2022?
No, the Payroll subscriptions offer no limit on the number of employees that you can add to QuickBooks. However, you may have to experience performance issues if you have added 800 or more employees.
Can I use QuickBooks Desktop Payroll Update 2022 without a Subscription?
Yes, you can use QuickBooks payroll manually without being its subscriber. For this, you need to track it in QuickBooks Desktop. Just remember, you have to calculate and enter payroll taxes and file your tax forms yourself.
Note: Before you manually set up payroll in QuickBooks, you are required to enable payroll inside your QuickBooks settings. Also, be sure to update your QuickBooks version so you get the latest fixes and improvements.
What are the steps to activate payroll after QuickBooks Desktop Payroll Update 2022?
Being a regular QuickBooks user, you are supposed to know how to activate payroll in QuickBooks Desktop. Here’s the list of steps to be performed:
1. In your QuickBooks Desktop company file, head to Employees and click on My Payroll Service.
2. Select Account/Billing info.
3. Now, sign in using your Intuit Account login. It will open your QuickBooks Account Page.
4. Afterward, choose Resubscribe under Status.
5. Lastly, follow the on-screen instructions to reactivate your payroll service.