Salary is the part of the payroll compensation package given to the employees by the employers. If you are running a business, you will have employees whom you would want to set up as a salaried employee in the payroll setup in your QuickBooks accounting software.
The below write-up will help you.
Steps for setting up a salaried employee in the QuickBooks
For setting up salary as a payroll item in QuickBooks, you need to follow the below steps:
Step 1. First of all, click on employees from the menu bar.
Step 2. Now click on employee centre and double click on the employee’s name whose payroll you wish to edit.
Step 3. Now you need to click on the payroll info tab and under the earning box in the item name columns, click on the blank area.
Step 4. Now in this step, click on the drop-down arrow, select the salary item, and enter the employee’s annual salary.
Steps for setting up of a yearly salary payroll item
If you want to set up a yearly salary payroll item in the QuickBooks, you can follow the below simple steps:
Step 1. First of all, you need to search and click on lists from the QuickBooks desktop menu. Now choose the payroll items list.
Step 2. Now in the next step, from the payroll item list, click on New.
Step 3. After clicking on new, you need to select the custom set up and click on next.
Step 4. Now you will have to select the wage and click on next again and then click on Annual salary and next again.
Step 5. Now in this step, you will have to select the type of pay. Except for vacation and sick pay, everything should be entered as regular pay. After that click on next.
Step 6. In the next step, you need to enter the easily identifiable term for the salary for e.g.: ‘temp employee salary’ or ‘officer’s salary’. After that click on next.
Step 7. Now, choose the expense account that you wish to use for tracking of the salaries and wages and click on finish.
You will have to repeat the steps as required for entering other salary items.
Steps for setting up payroll and compensation rate for salaried employees in QuickBooks Online
For Standard Payroll
Step 1. At first, you need to click on employees > then choose the employee you wish to edit and click on the edit icon next to pay.
Step 2. In the next step, you will have to click on the edit icon next to section#3 and choose the type of pay you want to select from the drop-down menu.
Step 3. After this input the salary amount and click on Done twice.
For Advanced payroll
Step 1. At first, you need to click on employees > then choose the employee you wish to edit and click on the edit icon.
Step 2. In the next step, click on the employment tab and change the details as required.
Step 3. At last click on save.
In case you need any further information on how to enter salaries of employees in QuickBooks at any point, you can talk with QuickBooks helpdesk @LIVE CHAT anytime to discuss your issues.