Final answer:
The first two steps to set up payroll in QuickBooks are to sign up for a payroll service and complete the Payroll Setup Interview. This ensures access to necessary features and gathers business information for accurate payroll processing.
Step-by-step explanation:
The correct steps to set up payroll in QuickBooks are to first sign up for a payroll service, and secondly to complete the Payroll Setup Interview. These are foundational actions needed before processing payroll or adding any information about employees. Signing up for a payroll service ensures that you'll have access to the necessary features to manage payroll transactions within QuickBooks, including tax calculations and payroll runs. The Payroll Setup Interview is a step-by-step guided process that gathers information about your business, such as bank account details, employee information, and tax details, which is crucial for accurate payroll processing.Explanation in more than 100 words:Setting up payroll properly is essential for any business to ensure compliance with tax laws and accurate payment to employees. By signing up for QuickBooks payroll service, you gain the functionalities needed to handle various aspects of payroll seamlessly. The service can include automatic tax calculations, direct deposit to employees, and electronic filing of payroll taxes. After subscription, the Payroll Setup Interview is a meticulous questionnaire that helps customize the payroll according to your specific business needs, ensuring that the details are correctly captured and reducing the likelihood of mistakes in the future. Without these initial steps, payroll administration may become disorganized, potentially resulting in legal or financial issues.