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QuickBooks MCQs

Why is it important during payroll setup to enter your deposit frequencies?

You do not need to enter your deposit frequencies, as QuickBooks enters that information for you automatically.

The Pay Scheduled Liabilities list in the Payroll Center will be accurate, so all taxes are paid in a timely manner to avoid late payments or penalties.

Most state agencies require this. If deposit frequencies are not set up correctly, a warning will go to the taxing authority.

QuickBooks needs this information to automatically make the payments for you on or before the due date.

Answer

Correct Answer: The Pay Scheduled Liabilities list in the Payroll Center will be accurate, so all taxes are paid in a timely manner to avoid late payments or penalties.

Explanation:

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