How to Set Up Single Touch Payroll in QuickBooks?

As businesses evolve and technology revolutionizes our work, staying ahead of the game is essential. With QuickBooks and Single Touch Payroll, you can streamline and automate a payroll system that saves you time and ensures compliance with ever-changing tax regulations. 

This article will guide you on how to set up a Single Touch Payroll in QuickBooks. Let’s get started!

What Is Single Touch Payroll in QuickBooks?

Single Touch Payroll (STP) is a feature that enables employers to report their payroll information directly to the ATO (Australian Taxation Office) each time they pay their employees. This reporting is done electronically, including employee salaries, wages, superannuation contributions, PAYG withholding, and other relevant payroll data. 

The STP feature in QuickBooks simplifies reporting payroll information and helps businesses meet their compliance obligations with the ATO. By sending real-time payroll data through STP, employers can provide accurate and up-to-date information to the tax authorities, reducing the need for separate reporting at the end of the financial year. 

How to Use SingleTouch Payroll in QuickBooks?

To use QuickBooks's Single Touch Payroll feature, ensure you have an STP-compliant software version and correctly set up your payroll information. Before using the feature, you must register with the ATO for STP reporting.

How to Set Up Single Touch Payroll in QuickBooks?

Step 1: Set up ATO Supplier Settings.

Step 2: Select ‘Payroll’ from the left menu and select the ‘Payroll Settings’ tab.

Step 3: Set up Electronic Lodgement and STP.

Step 4: Select ‘Payroll’ from the left menu and Click on the ‘Payroll Settings tab.’

Step 5: Click ‘ATO Settings’ and select the ‘Electronic Lodgement & STP tab.’

Step 6: Verify your company information by following on-screen prompts.

Step 7: Update your details in the ‘Access Manager.’

Step 8: Tick in the ‘acknowledgment box’ shown and click ‘Complete.’

Frequently Asked Questions

Does QuickBooks do Single Touch Payroll?

QuickBooks Online does offer Single Touch Payroll (STP) functionality. However, please note that features and capabilities may change over time, so checking the latest information from Intuit or the QuickBooks website is essential to confirm if STP is still available and supported.

How do I finalize Single Touch Payroll in QuickBooks?

• Ensure you have completed all the necessary payroll information, including employee details, earnings, taxes, and deductions.

• Navigate to the "Payroll" or "Employees" section in QuickBooks Online.

• Review the ‘payroll details’ to ensure accuracy.

• Generate the ‘payroll report’ or pay event for ‘Single Touch Payroll’ reporting.

• Submit the pay event to the ‘tax authorities’ as your country's tax regulations require.

• After submission, verify that the ‘payroll information’ has been successfully sent.

How do I set up manual payroll in QuickBooks?

• Click the Gear icon in the top right corner of QuickBooks Online and choose "Payroll Settings" or "Account and Settings."

• Click on "Payroll" or "Advanced Payroll Settings."

• Turn off the ‘automatic payroll calculations’ or any ‘linked payroll service’ you might have.

• Save your changes.

• With automatic payroll turned off, you can manually calculate and enter payroll information for your employees. 

How do I run a one-time payroll in QuickBooks?

• Go to the "Payroll" or "Employees" section in QuickBooks Online.

• Click "Run payroll."

• Select the employee for whom you want to process the one-time payment.

• Enter the bonus amount or the specific earnings and deductions for this payment.

• Review and confirm the details.

• Complete the payroll process.