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Video instructions and help with filling out and completing irs tax form 941 2016

Instructions and Help about irs tax form 941 2016

Hi this is Seth David from the world-famous nerd enterprises incorporated brings you another special screencast this time we're talking about how to enter payroll into QuickBooks the detailed method knowledge is power make an impact by learning more call me right now at eight six six nine four five eight zero seven zero four information about private trainings we always record the live session with you so you can review it as often as you like afterwards hi so we're going to enter payroll in the detail format and of course if you want to check out the summary form afterwards there'll be a link to click on at the end of this video that will let you go right there and see the difference so entering in payroll entering payroll in the detailed format is going to require several steps let's take a look first we have to go to our chart of accounts and see what we need and the first thing we're going to need to make sure that we do is we're going to make sure that we add in a bank account it's a fictitious bank account and we're going to call it payroll clearing ok so that bank account has to be in place this is we're going to enter in each individual paycheck and that's going to be important because that's the whole point of this is to be able to enter it in in detail which means entering in each individual paycheck so let's go do that and then what's going to happen as you watch this video is it's all going to come together how this actually works because the the key here is that we're not going to have each individual paycheck taken out of our actual bank account so we can't record them there we need to record them here and then you're going to see how they're going to net out to the total net payroll which is the amount that comes out of our bank account and once we have that in place it's a simple entry we write the check out of our bank account the offset is the payroll clearing account which will then zero out and you'll see how this works as I demonstrate it for you so let's go over to excel this is a typical of what a summary payroll report might look like within your pair report this was a lot of pages a lot of reports the one you're going to be looking for is one that kind of lays out the information as follows as you see here on screen and it gives you the summary and if we were just entering payroll and in the summary form this is all you would need to get the payroll entered but since we're going to want to enter in the detail here we need the details and what that means is in that report that you get from