Chapter 6 - QuickBooks - Employees and Payroll

All of the following are QuickBooks Payroll Services except:

Advanced. Not basic, assisted, or enhanced.

All of the following automatically calculate payroll tax withholdings in QuickBooks except:

All of the automatically calculate payroll tax withholdings such as basic payrolls, assisted payrolls, and enhanced payrolls.

Which of the following may be billed to a specific customer job?

All of these. Mileage, hours, and expenses

To turn on QuickBooks time tracking feature, the following steps must be completed:

Click Edit > Preferences > Time and Expenses > Time Tracking

The payment to a stockholder who is not an employee of the company is a:

Dividend

A company is required to withhold payroll taxes for:

Employees

The order of steps to process payroll is:

Enter time > Pay Employees > Pay Payroll Liabilities > Process Payroll Forms

3 of the following activities and QuickBooks window used to record are

Enter time worked; weekly timesheet Enter employee information; employee list Pay payroll taxes; pay liabilities

Which one of the following is paid by both the employee and company?

FICA

3 types of Payroll liabilities are

Federal Income tax - funded by employee State Income Tax - Funded by employee FICA - Funded by employer and employee

Which of the following is not a payroll report?

Form 1065

Which form summarizes payments made to subcontractors?

Form 1099

When setting up a new employee where do you get their filing status and allowances information?

Form W-4

To include a charge for labor on an invoice, labor as a service item must be recorded in the:

Item List

"Time by Job" project reports can help...

Management by telling them how much time was worked on each job. Category, employee, or service offered can be given.

The Payroll Center:

Manages payroll and tax information

An individual's status determines how to record payment to that individual. Which of the following status and payment method is incorrect?

None of these such as vendor; bill, employee; payroll, stockholder; dividend

3 of the following sections in the payroll center

Pay Employees Pay Scheduled Liabilities File Tax Forms

What QuickBooks activity comes next in this string of payroll activities? Enter time > Pay Employees > ________ > Process Payroll Forms

Pay Payroll Liabilities

Which of the following activities and QuickBooks window used to record it is incorrect?

Pay payroll liabilities; Write check.

The following are payroll liabilities except.

Sales taxes

Which of the following is typically used to track time for a single activity?

Stopwatch

What is the purpose of Federal Form 941?

Summarize the amount of federal income tax, Social Security, and medicare withheld from employee paychecks for the quarter.

What is the purpose of Federal Form 940?

Summarize the amount of unemployment tax paid and due by the company

Which of the following ways to track time is not supported by QuickBooks Pro and QuickBooks Premier?

Time Clock

In QuickBooks, time data is listed on customer invoices using the:

Time/costs button

When tracking time for subcontractors, which QuickBooks window is used to enter subcontractor information?

Vendor List

Each year employees are sent Form _____ to summarize gross wages and tax withholdings for the year

W-2

The Payroll Center has the following sections except:

Write checks