How To Create A Separate Bonus Paycheck In QuickBooks

Create A Separate Bonus Paycheck

Step 1 –

Begin creating payroll according to your regular process.

If you use payroll schedules, process the bonus check as an unscheduled payroll to avoid date discrepancies in your next scheduled payroll.

Here are the steps to create a paycheck using unscheduled payroll:-

  • Click on the Employees which is on the top of the menu bar. Then, select Pay Employees.
  • Now, select Unscheduled Payroll from the list.

Step 2 –

Check mark the name of employee(s) that you want to create a bonus check for, then click on the Open Paycheck Detail button.

Step 3 –

In the Earnings box of the Preview Paycheck window, click on the Item Name column to get a drop-down menu, and then select a bonus item.

Step 4 –

In the Rate column, enter the gross amount of the bonus.

Step 5 –

Click on Save and Close or Save and Next to continue creating additional bonus paychecks.

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QuickBooks will calculate the withholding taxes according to the Filing Status and the Allowances in the Employee Profile. You must need to consider the taxability of bonuses. The net pay bonus check can drastically change that is based upon the selection and the disbursal of taxes. For options on changing the tax disbursal on the bonus, you need to know about create a bonus paycheck.

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How To Set Up A Bonus Payroll Item In QuickBooks

There are several options when you pay bonuses to employees, and that include the pay bonus amount that is on the employee’s regular paycheck, reporting a cash or gift bonus through a paycheck, or creating a separate paycheck for the bonus amount only.If you want to set up all of your payroll such as compensation, benefits, employees, taxes, and the payroll history, then you have to run the Payroll Setup interview.If you pay your employees one-time bonuses, you can set up bonus payroll items to track the bonuses you pay.

Here are the steps to set up a bonus payroll item

Step 1 –

Go to the Lists menu and then click Payroll Item List.

Step 2 –

Click the Payroll Item button and then click New.

Step 3 –

Choose either EZ Setup (that is for most of the users) or the Custom Setup (for the advanced users), and then click on Next button.

Step 4 –

Choose the type of item that you want to set up. click on Next.

Step 5 –

Now you have to follow the onscreen instructions.

Step 6 –

Click on the Prev. button to go back to a previous window.

Step 7 –

Now, click on the Finish button when you are done.

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