What are the most common payroll mistakes small businesses make?

Common mistakes include worker misclassification, incorrect payroll entries, unreconciled payroll withdrawals, duplicate transactions, incorrect payroll liabilities, outdated employee information, and mixing contractor payments with employee payroll.

Why should payroll be reconciled?

Payroll reconciliation helps confirm that payroll reports, bank withdrawals, and bookkeeping records agree. This can help identify missing transactions, duplicates, or incorrect entries.

Can payroll mistakes affect QuickBooks?

Yes. Payroll mistakes can create incorrect expense categories, duplicate transactions, inaccurate liabilities, and unreliable financial reports inside QuickBooks.

What is payroll bookkeeping?

Payroll bookkeeping is the process of recording payroll-related financial activity in your accounting system, including wages, employer taxes, fees, reimbursements, and related liabilities.

Should contractor payments be included in payroll?

Independent contractors are generally tracked separately from employees. Keeping contractor payments separate helps with bookkeeping and potential 1099 reporting.

Can Simon Bookkeeping help clean up payroll records in QuickBooks?

Yes. Simon Bookkeeping can help review payroll-related bookkeeping, identify inconsistent records, reconcile transactions, and clean up QuickBooks where needed.

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Do you provide payroll bookkeeping outside Bergen County?

Yes. Simon Bookkeeping serves Bergen County and North Jersey businesses while also offering secure remote bookkeeping support nationwide.