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I need some help in running payroll outside of my standard…

Hello, I need some help...
Hello, I need some help in running payroll outside of my standard schedule for a couple of employees. I'm not sure what dates to use for pay period and also how to make sure I file my payroll liabilities correctly with the additional payroll run. I'm using Quickbooks as my accounting software.
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Answered in 14 hours by:
3/8/2018
Kelly McGlynn
Kelly McGlynn, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 31
Experience: President at Exceptional Bookkeeping Inc.
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Hello. Thank you for your question. I'm Kelly and am here to help you today. I am reviewing your question and will be with you shortly.

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When you go into your pay employees option, there should be an option that says start unscheduled payroll. Do you see that?

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Customer reply replied 5 months ago
Hello, sorry for the delay. Yes, I do see that. I have gone into it and selected the people who need to be paid and updated the amounts

Perfect. The process now should be the same as a regular payroll. As far as the payroll tax go, if you are preparing your payroll tax reports through QuickBooks, it will pull the correct information or all returns.

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Customer reply replied 5 months ago
Okay-question on what to use for my pay period dates though. What does this decision impact? Since this pay should have taken place with my last pay period, should I make the dates in line with the prior period?As for payroll tax, we file and pay our own. I have already made my deposit to the federal government but this was based on amounts excluding these new payments. Are familiar with the EFTPS portal to make deposits on FICA and Withholding?

What was the last pay period? Are you a monthly depositor or a semiweekly depositor for payroll taxes?

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Customer reply replied 5 months ago
Last pay period was Feb 1 through Feb 28th but we actually pay on the 5th of the next month. We have to submit a schedule B so I believe we are semi-weekly? This doesn't make sense to me though since we only pay once a month however when I look at our latest 941 it does show semi-weekly.

Okay, so you can use the same payroll period and it's only 3 days late. As long you are not willfully not paying employees, just go ahead and pay them and submit another tax deposit for the taxes. If you are filing schedule B, you are semiweekly so you will want to make sure and get those taxes paid on time.

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Customer reply replied 5 months ago
could I just go into the EFTPS portal, and make another deposit to account for these two additional deposits? My understanding is the deposit to EFTPS is due the following Friday (since we paid out on a monday). If that holds true, going into EFTPS and adding additonal payment will essentially just increasing what is deposited for that period. Then, for my actual 941, I should be alright because that is all activity for Q1.

Correct, for Monday payroll, the taxes are due by Friday. Technically, for a Thursday payday, the taxes are due by the following Wednesday but since these should have been paid on Monday I would pay the taxes ASAP. Yes, just go to EFTPS and schedule another payment. As far as the 941, it is fine also, you will just have 2 payments in March instead of 1 but both are timely so there should not be any issues.

Kelly McGlynn
Kelly McGlynn, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 31
Experience: President at Exceptional Bookkeeping Inc.
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Customer reply replied 5 months ago
Okay- I think that takes care of everything! Thank you so much for your help!

Glad I could help. Thank you for the 5-star rating.

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