Outsourced Payroll
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Outsourced Payroll
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
Re: Outsourced Payroll
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)180 Faith Ministries wrote: ↑Tue Mar 08, 2022 3:00 pmPlease 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
My question is this, do they file all the income taxes too?
Neil Zampella
Using PC+ since 1999.
Using PC+ since 1999.
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- Posts: 4
- Joined: Tue Mar 08, 2022 2:40 pm
Re: Outsourced Payroll
yes, they pay all the taxes.
Re: Outsourced Payroll
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.
Using PC+ since 1999.