Tax payments
When are state income taxes paid?
The state will notify the customer of their state deposit schedule when they register
What is prior payroll? Why is it important to enter this information?
Any paychecks that were paid for the current year before moving to Quickbooks.
We have to enter the prior payroll so the year-end filing/reporting is correct. (Like W-2's)
The total amount of wages before taxes and deductions are taken out.
When is the 941 due?
By the last day of the month following the end of the quarter.
April 30th / July 31st / October 31st / January 31st
What tool do we use if there is a rejected direct deposit?
Sentinel
When are SUI (State Unemployment) taxes due?
By the last day of the month following the end of the quarter.
April 30th / July 31st / October 31st / January 31st
How can we fix prior payroll AFTER the account is set up and they have run the first payroll.
Payroll Correction Case (Tax Ops Case in Salesforce)
What is the difference between a pay date and a pay period?
Pay date - the day the EE received the check
Pay period - the period of time that the work was performed
What tax does the form 940 record?
FUTA (Federal Unemployment)
What is the default DD lead time for CORE payroll?
1 banking day
What are the 2 most common Federal Deposit Schedules? (How often a customer pays Federal 941 taxes)
Monthly and Semi-weekly
Can a customer run payroll without having their State Tax account numbers? What will happen if we do not get these account numbers?
Yes. We will not be able to pay or file their state taxes until we have the account numbers entered and the authorization forms signed.
Which report will show a detailed breakdown of every paycheck within a specific time range?
Payroll Details report
Does CORE payroll pay and file local taxes for the customer automatically?
NO
What is an R03 return code?
No account or unable to locate account
What is the tax rate for Social Security and Medicare?
SS- 6.2%
Med- 1.45%
What is the VBD Status? Why is this important?
This tells us if the bank account has been verified or not. The bank account HAS to be verified to run direct deposit checks and to pay taxes electronically.
Where can you find contractor payments? (In QBO only)
Expenses>Vendors>Vendor Payments
Payroll>Contractors>Payment History
What tax does the form 941 record?
Federal income tax, Social Security, and Medicare taxes withheld.
What is a Direct Deposit limit? What are the 2 types of Direct Deposit limits?
The maximum amount of money a company can send via direct deposit within a 6-day period.
Per Payroll - The maximum limit for all EEs and Contractors combined in a 6-day period.
Per Person - The maximum limit for any single EE or Contractor in a 6-day period.
How do we know if we are paying and filing taxes automatically for the customer?
See if "Auto Pay & File" is enabled in CS server.
After connecting the bank account, what step needs to be completed before we can pay and file the company's taxes for them?
Sign Authorization Forms
This type of form is usually sent with an SUI (State Unemployment) tax payment at the end of each quarter.
UI Wage Reports
How does a customer resolve an NSF hold?
Either wait for us to redebit their bank account, or wire us the funds owed.