Outsourced Payroll

Fund Accounting, Accounts Payable, Accounts Receivable, Payroll

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180 Faith Ministries
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Joined: Tue Mar 08, 2022 2:40 pm

Outsourced Payroll

Post by 180 Faith Ministries »

Please bear with me I'm new to PC. We outsource our payroll, the company automatically deducts the salary and housing allowance as well as all the taxes from our checking account. They supply the W2 at the end of the year. How do I keep track of the salary, housing allowance and taxes? Thanks

NeilZ
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Location: Dexter NM
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Re: Outsourced Payroll

Post by NeilZ »

180 Faith Ministries wrote:
Tue Mar 08, 2022 3:00 pm
Please bear with me I'm new to PC. We outsource our payroll, the company automatically deducts the salary and housing allowance as well as all the taxes from our checking account. They supply the W2 at the end of the year. How do I keep track of the salary, housing allowance and taxes? Thanks
You would create a manual check to reflect the amounts paid using the normal expense accounts for salary, etc. No need to enter a check number just use something like 01/22 PR EFT (January 2022 Payroll Electronic Funds Transfer)

My question is this, do they file all the income taxes too?
Neil Zampella

Using PC+ since 1999.

180 Faith Ministries
Posts: 4
Joined: Tue Mar 08, 2022 2:40 pm

Re: Outsourced Payroll

Post by 180 Faith Ministries »

yes, they pay all the taxes.

NeilZ
Posts: 10209
Joined: Wed Oct 08, 2003 1:20 am
Location: Dexter NM
Contact:

Re: Outsourced Payroll

Post by NeilZ »

180 Faith Ministries wrote:
Tue Mar 08, 2022 10:32 pm
yes, they pay all the taxes.
In that case, don't forget to add up all the employer's taxes (SS & Medicare), and any state requirements for the employer's tax expense. The salary for the period and housing allowance should be 'fixed' if they are salaried employees.
Neil Zampella

Using PC+ since 1999.

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