Sunday, July 22, 2018

What Are Frequently Discussed Terms Related To Payroll Processing?


Are you a small business owner? Worried of payroll discrepancy? The blog here is to discuss some important topics of discussion in relation to payroll processing which will enhance your payroll knowledge. No doubt, processing payroll comes under the category of the most complex & time consuming tasks, if it is not done with the help of a robust tool. Also, accomplishment of business objectives isn’t possible without payroll as it is related to one of the important assets of organization—Workforce.

The task can be even more complex, time-consuming, irritating and confusing as well if you’re new to process. Let’s discuss some frequently discussed topics related to payroll processing. You can also join our support service dialing QuickBooks Support Phone Number.  
       

EMPLOYEE IDENTIFICATION NUMBER (EIN):

EIN number, issued to every employed person by Internal Revenue Service (IRS), is a nine digit number that comes into usage while filing federal as well as state taxes for businesses. Payroll tax reporting documents are included in this. Application for employee identification number can be submitted through government site of IRS.

Sole proprietorships, S corporations and C corporations all varieties business entities where EIN number is used. The utility of EIN number is proven in case when company is driven by a person more than fictitious name. One can run company with both names with same EIN number.

I-9 FORM

I-9 form is used by owners of companies for verifying employment authorization & identity of any employed person. For any of employer of USA, it is mandatory to complete this form for every hired employee

Indeed, knowledge of above topics will be helpful, if you are a newbie in payroll management, and want to do optimize payroll processing while using it with QuickBooks. These are least, however, knowledge of W-2s, 1099s, workers’ comp insurance, labor law posters and many other topics is still required if you really want to a smart payroll manager with QuickBooks. To increase your knowledge, or to fix some frequently encountered errors, you can dial toll-free QuickBooks Phone Number.




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