Update QuickBooks Payroll: A Must-Do for Accurate Calculations

QuickBooks delivers credible bookkeeping and payroll services to people all around the world. The payroll service must be updated periodically in order to keep the calculations in sync with the latest federal tax tables, E-FILE options, and other government regulations of your region.

This blog straightaway shares the most precise technique to update QuickBooks payroll service and clarifies all the misconceptions about it. If you are a QB payroll service user and need info on downloading the latest QuickBooks payroll tax table update, hold on to this blog till the end to learn everything you’ll endure while downloading and installing the payroll updates.

What is the Need to Download the Latest QuickBooks Payroll Updates?

Intuit always recommends downloading the latest QuickBooks payroll update to keep the software efficient and compliant with the federal government’s tax table. Keeping your payroll service up-to-date has numerous additional advantages, some of which are mentioned below:

• Accurate Calculations: Whenever you install a new QuickBooks payroll update, it aligns the tax calculations with the government’s latest tax table. This helps you disburse paychecks after accurately calculating the taxes, deductions, and benefits for the employees/contractor.
• Regulations compliant: We all know that tax rates and payroll regulations are subject to change every financial year or more frequently. Downloading the payroll service updates ensures your QuickBooks Desktop works in accordance with the latest changes introduced by the government.
• Enhanced features and bug fixes: The developer team fixes bugs and glitches with every new update, and new features/tools are often attached to it. Updating the payroll service lets you utilize new features with increased QuickBooks performance and efficiency.
• Avoiding legal penalties: QuickBooks payroll updates shield you from penalties brought on by inaccurate tax calculations or inconsistencies in the financial data. Installing the latest payroll updates is far preferable to incurring hefty penalties, as you will agree.
• Security: Downloading the latest Intuit payroll updates also strengthens security protocols, removes vulnerabilities, and protects your QuickBooks from cyber threats or data theft.
• Employee Satisfaction: Installing the QB payroll service updates ensures the employee payroll is correct and timely, which is critical for the growth of your business.

Apart from this, there are many other additional benefits of keeping your QuickBooks payroll service updated. Rather of delving into each one and revolving around the crux of this blog, let us get right into the preparations that must be made before downloading and installing the latest QuickBooks payroll updates.

Things to Consider Before you Download QuickBooks Latest Payroll Update

There are numerous things that could go wrong when you download QuickBooks payroll tax table update or install it on your system. As a precautionary measure, you should check the following prerequisites to ensure a smooth and successful payroll update process:

1. Data Backup: Always back up your company files before downloading any updates (whether payroll or software) to ensure you can retrieve your financial record in case it gets affected during the update process. Here’s a quick way to create a backup of your QuickBooks company files:
   • Launch your QuickBooks Desktop and access the File menu.
   • Move the cursor over the Back up Company option and tap Create Local Backup.
     
     
   • Select Local Backup and hit Next.
   • Click Browse in the Local Backup Only section and choose a location to store the backup file.
   • Click OK when you are ready and tap Save it now.
   • Hit Next and wait until the data backup is created.
2. Close Background Applications: You are advised to close all the unwanted applications (including anti-viruses) to ensure the payroll update process isn’t interrupted.
3. Update QuickBooks Desktop: Make sure you download the QuickBooks updates before updating the payroll service to avoid any compatibility issues. Here’s how-
   • Click the Update Available option on the status bar (if visible) and tap Install Now.
   • If automatic updates aren’t turned on, go to QB’s Help menu and select Update QuickBooks Desktop.
     
     
   • Select Update Now and tap Get Updates.
   • Reopen QuickBooks Desktop to install the updates.
4. Stable Internet Connection: Ensure your network connection is working fine to ensure the payroll update isn’t hindered, which may lead to file damage. QuickBooks usually recommends 3Mbps on average and a minimum of 1.5Mbps.
5. Verify Payroll Subscription: An expired or inactive payroll subscription could prevent payroll updates from installing. Here’s how to check if your payroll subscription is active or inactive:
   • Go to the Employees menu in your QuickBooks Desktop and select My Payroll Service.
     
     
   • Click Account/Billing Information and enter your Intuit account credentials to log in.
   • Verify if the payroll service says Active.

Note: You’ll need to reactivate your payroll service if you see Inactive.

After you confirm that all the above-mentioned things are well in place, you can proceed to download QuickBooks desktop payroll 2024 updates using the procedure given in the next section.

How to Update Payroll in QuickBooks Desktop?

We have mentioned the Intuit-suggested procedure to install payroll updates for QuickBooks on your system. Carefully go through each step discussed and apply them on your PC for a seamless payroll service update in your QuickBooks-

Step 1: Check your Tax Table Version

Here’s how you can check your tax table version:

1. Access the Employees menu in QuickBooks and select My Payroll Service.
   
   
2. Click Tax Table version and check beside You are using tax table version to know your version.

Tip: Check latest payroll news to know everything about the latest updates.

Step 2: Get Payroll Updates in QuickBooks Desktop

Once you have checked your tax table version to ensure a new version is available, use the following procedure to manually update payroll in QuickBooks:

1. Launch your QuickBooks Desktop and go to the Employees menu.
   
   
2. Select Get Payroll updates and tap the Download entire update option.
3. Tap Update and wait to receive a notification that the download is complete.
4. Follow any other instructions given on the screen and relaunch your QB Desktop.

This is how to update QuickBooks payroll tax tables and sync the accounting software with the government’s regulations. You’ll have the latest tax table version on your QuickBooks Desktop the next time you open the software after using the above method.

Closure

We are now at the farthest limit of this blog, discussing how to update QuickBooks Payroll and the checkpoints you must keep in mind to ensure a seamless process. We advise you to avoid any delay in downloading the latest QuickBooks payroll updates to avoid any hitches and make your business legally compliant.

FAQs

Are payroll updates for QuickBooks included in my subscription?

Yes, payroll updates are included in your subscription. You get automatic access to regular updates and other payroll-related features when you subscribe to the QuickBooks payroll service. Ensure your payroll subscription is active to receive all the new updates released by the QB developer team.

When will I receive the next QuickBooks payroll update?

This entirely depends on when the tax tables or compliance changes are released by the federal government. Normally, QuickBooks releases updates after every financial quarter and year-end updates for W-2 and 1099 filings.

How can I ensure that my payroll taxes are calculated accurately after a payroll update?

Always review your tax table version after running a payroll update to ensure it is installed correctly. Ensure your employee information is up-to-date, and check the payroll reports thoroughly after the update. Compare the payroll summary report and tax liability reports, ensuring that there are no mistakes in the amount withheld from the employee. If you think there’s something wrong, we advise you to contact support and an accountant before filing.

How can I stay informed about upcoming payroll tax changes and updates?

You can always check the official QuickBooks website to learn everything about the latest tax table and changes released by the government.