How to Set Up Bonus Paychecks in QuickBooks Desktop Payroll


Dancingnumbers

Uploaded on Nov 29, 2021

Category Business

The bonus is known as compensation over the base salary or hourly rate. Before paying your employee the bonus on a paycheck there requires to add the bonus paycheck. The information is beneficial to start the task of setting up Bonus Paychecks in QuickBooks Desktop Payroll.

Category Business

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How to Set Up Bonus Paychecks in QuickBooks Desktop Payroll

How to Set Up Bonus Paychecks in QuickBooks Desktop Payroll? By Dancing Numbers The bonus is known as compensation over the base salary or hourly rate. Before paying your employee the bonus on a paycheck there requires to add the bonus paycheck. The below article is rounded up with the guide to creating particular bonus paychecks. If you’re a QuickBooks Desktops, there’s additionally a choice to pay your worker with a money bonus or gift certificate. Why do you need to create separate bonus paychecks? There are many factors involving the creation of a particular bonus check to add to a basic paycheck. They are below: • Switch off bonus check’s direct deposit • Manage the bonus tax treatment or the account deductions withholding • For bonus off-cycle payments • Provide the bonus check to the employee’s special event Setup a bonus payroll item • Open the QuickBooks Desktop • Locate menus at the top of the page • Choose Lists and then hit Payroll item List • Click on the button named Payroll Item • Hit New option • Choose the Custom Setup tab • Click Next • Choose Wage option and then hit Next • Click Bonus and then choose Next • Write the item name and then hit Next • Select the expense account you need the item to track to • After this hit the Finish button Setting up bonus paycheck s in QuickBooks Desktop QuickBooks Desktop will estimate the withholding taxes with regards to the filling status & allowance options in the employee profile. Hence you must consider bonus tax abilities. The bonus check net pay gets rapidly changed according to the selecting & taxes disbursal. Here is the list of steps to add bonus items to a regular paycheck. • Locate the Earnings field of the window named Preview paycheck • Hit on the column labeled item Name below • The regular salary/hourly item • It will display a drop-down button • Choose a bonus item • Click on the column which says Rate • Fill the bonus gross amount • Now adjust state withholding taxes and federal as required • Hit Save & Close button to precede creating paychecks Contact us www.dancingnumbers.com [email protected]