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Payroll Update Information
The most recent payroll update, number 20614, was released in mid-September. It included:
- New withholding tables for Ohio. The withholding tables will be effective Oct. 1, 2006.
- New Jersey Health Care Subsidy company rate. Effective July 1, 2006, the rate decreased to 0.00%. Refer to the payroll update documents for any action required.
- New Jersey Health Care Subsidy employee rate. The payroll item has been modified to only show a rate of 0.00%. Refer to the payroll update documents for any action required.
- The Premium Only Plan tax tracking type has been changed to Premium Only/125. The description has also been enhanced for clarity. This change has no effect on the taxability or reporting requirements for this tax tracking type.
- (Enhanced Payroll only) New state forms for Colorado and New Hampshire.
- (Enhanced Payroll only) Updated state forms for Arkansas and Louisiana.
For more information about payroll updates, visit www.quickbooks.com/payrollnews.
Automatic Updates
We recommend you keep the Automatic Updates feature turned on. Automatic Updates tells QuickBooks to check for new payroll updates automatically. Automatic Updates are turned on by default. If you or someone else turned them off, it's a good idea to turn them back on.
To turn on Automatic Updates for payroll:
- In QuickBooks 2007 and 2006: From the Help menu, select Update QuickBooks.
In QuickBooks 2005 and 2004: From the File menu, select Update QuickBooks.
- Click the Options tab.
- Select Yes to enable the Automatic Update option.
- In the Updates list, mark the following channels: Service Messages, Payroll, Federal Forms, and Forms Engine. If you subscribe to QuickBooks Enhanced Payroll, also mark the channel for State Forms.
Note: We also encourage you to mark the Maintenance Release channel. Marking that channel will ensure you always have the latest software updates, including any enhancements to the payroll features.
- Click Save and then click Close. (In QuickBooks 2004: Click the "X" in the upper right corner.)
Note: You must be connected to the Internet to receive the updates.
If you don't leave Automatic Updates turned on, make sure you check for updates before you run your payroll and before you prepare your payroll tax forms. Federal and state agencies can change tax rates and tax forms at any time, and QuickBooks provides updates to keep you up-to-date. Checking for updates before you process your payroll and payroll tax forms ensures you have the latest tax tables and forms you need for your task.
How Do I Determine Whether I Have the Latest Payroll Update?
To determine whether you have installed the latest payroll update:
- Check the Payroll News Web site to find out the number of the latest payroll update.
- Check whether that is the same update as you have in your QuickBooks: From the Employees menu in QuickBooks 2007 and 2006, choose Get Payroll Updates. From the Employees menu in QuickBooks 2005 and 2004, choose Get Updates, and then Get Payroll Updates. The tax table (payroll update) version number is located at the top of the window.
The information contained in the QuickBooks Payroll Bulletin is meant to provide general information about the payroll process and is not intended to provide tax or legal advice. Always consult your tax professional when preparing tax documents.
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