starting new file and re-entering payroll data

[phineas629]

Hello,

I'm nervous about making a mistake because I have to re-do my quickbooks file for 2012. In the guided "payroll set-up" I am re-entering my data. However, my data is showing up as "YTD adjustment" in the payroll center. Would I be better off re-entering each paycheck in the payroll center? Is it bad to have a YTD adjustment? I want to do as much as possible to appease the tax man.

Thanks

[cojhl2]

It seems to me that it is way to time consuming to reenter data. I would just start the new file(too bad it is not at Year end) and make sure to keep the old file.

During the rest of the tax year it will be somewhat hard to work with two files until the old one finally dries up and at Tax time of course there will be two sets of books to combine into one tax reporting document.

But,, although it will be cumbersome for a while there will not be any tall explaining to do becasue of errors.

My 02 FWIW

[phineas629]

The problem is I need to run reports and if I don't have the data then the reports would be worthless. I need data for the whole year. Is it an issue if my data is entered as YTD adjustments?

[MarineMom2]

I ran in to the same problem with a client I took over. I ran monthly payroll summaries and entered each employees monthly totals, making adjustments here and there for taxes to be sure the net amounts were correct. Time consuming, but easier than entering every single paycheck and I had all the information I needed for payroll reports (including year-end).

[Wartrace]

Just use the recommended YTD payroll procedures as you are doing, you'll be fine.