DIY Payroll Jeopardy

Running Payroll

200

Under this payroll schedule, employees receive a total of 52 payouts each year. 

Weekly

400

This payroll type is designed for off-cycle payments, such as bonuses, and does not impact the regular payroll schedule.  

Unscheduled Payroll

600

A customer contacts you because a paycheck was accidentally created in QuickBooks Desktop, and they need it completely removed so it does not appear in any reports or affect payroll records. What should you recommend they do?

Delete paycheck

800

You are assisting a customer who recently changed their company’s pay period from biweekly to weekly. They want to update the payroll schedule in QuickBooks Desktop so future paychecks reflect the new frequency. What steps should you guide the customer through to edit an existing payroll schedule in QuickBooks Desktop?

Steps to Edit a Payroll Schedule in QuickBooks Desktop

1. Open QuickBooks Desktop and log in to your company file.
2. From the Employees menu, select Payroll Center.
3. In the Payroll Center, go to the Pay Employees tab.
4. Locate the Payroll Schedules section (usually on the right side).
5. Find the payroll schedule you want to edit and click Edit Schedule.
6. In the Edit Payroll Schedule window:
   • Change the Pay Period Frequency (e.g., from Biweekly to Weekly).
   • Update the Next Pay Period End Date and Next Pay Date as needed.
7. Click OK to save your changes.
8. Verify that the updated schedule appears correctly in the Payroll Center.

1000

A customer realizes that a paycheck in QuickBooks Desktop was processed with the wrong amount, but they need the record to remain in the system for audit purposes. What should you recommend they do?

Void the paycheck so the amount becomes zero, but the transaction remains in the records.

Direct Deposit

200

Businesses can use this feature to pay employees and contractors electronically, with funds sent straight to their bank accounts.

 

Direct Deposit

400

This type of underwriting system allows customers to change their payroll bank account within QuickBooks Desktop. 

SMS

600

This status indicates that the direct deposit has been credited to the employee's bank account.

Executed

800

This tool is used to upload the Direct Deposit Bank Account change form.

File Exchange

1000

The direct deposit cannot be stopped or voided with this status.

Offloaded

Risk Inquiry

200

These Payroll holds are usually caused by not having enough money in the customer's Payroll bank account.

NSF Hold

400

This team is responsible for resolving non-sufficient funds (NSF) balances due when the customer fails to fund their payroll transaction.

Payroll Collections Team

600

This tool is used to submit an online request for an increase in the direct deposit limit.

QuickBase

800

This is a security measure implemented by Intuit to comply with federal regulations designed to prevent money laundering and other financial crimes.

AML Hold

1000

This team handles the second review of declined money movement applications. 

Initial Underwriting Team

Tax Payments and Liabilities

200

These are generated in QuickBooks Desktop when you run payroll, as taxes are automatically calculated.

Payroll Tax Liabilities

400

This is a feature that allows you to pay federal and state payroll taxes directly to the tax agencies (such as the IRS) using electronic funds transfers (EFTs) from within QuickBooks.

Epay

600

This process enables the ability to view and pay the tax liabilities in the payroll center.

Schedule Tax Payment

800

What is the status if Intuit has sent the e-payment to the agency? 

Submitted to the agency

1000

Aside from the 4-digit EFTS Pin, what is the other login information needed when submitting e-pay?

Internet Password

Tax Forms Filings

200

This is a feature that allows the customer to file their tax forms electronically. 

E-file

400

This is a process in which the customer will print and mail the forms to the federal or state agency.

Manual Filing

600

What is the filing frequency for the Form 940?

Annually

800

What is the filing frequency for the Form 941?

Quarterly

1000

How many digits is the E-file pin?

10