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QuickBooks Payroll Advance

QuickBooks Payroll Advance

Smoothly Record Employee Advance Payment in QuickBooks Payroll

If your business has a policy that allows you to give advances on upcoming payroll to your employees, you can use QuickBooks Payroll to record the advance. This guide helps you to record QuickBooks payroll advance and more about it.

QuickBooks Payroll was developed by Intuit for easing the Payroll Services of businesses irrespective of their size and nature. QuickBooks Payroll is a subscription that is added to the QuickBooks software comprising of well designed features and tools.

The solutions offered can be used by the accountants for to smoothly manage the payroll system of a company with complete accuracy and quality. The payroll software helps to design, customize and print unlimited pay checks, file & timely payment of the payroll taxes on time.

Payroll software are further divided into three categories – Basic, Enhanced and Full. The versions are featured according to different business requirements.

The QB Payroll Enhanced version offers powerful tools and features in comparison to basic and full service payroll.

How to Record Employee Advance Payment in Payroll

QuickBooks Online Payroll supports advances by assisting you to set a cash advance deduction and further forwarding the deduction to the employees. Consult your accountant prior performing the task so that it brings profit to your business. The cash advance is provided to the employee in the form of check directly but not through the payroll system. You need to set up the deduction to repay the Advance.

For setting up the deduction after the advance is given to the employee, follow the steps listed below:

1. Steps to set up deduction for repayment of a Cash Advance

  • Select the name of your company name ➫ then select Payroll Settings
  • Click Deductions or Contributions
  • Select Add new deduction or contribution
  • Select other deductions from the drop down category
  • From the Type dropdown Select Cash Advance Repayment from type dropdown
  • Enter a description -> then click OK.

2. Steps to assign cash advance deduction to an employee

  • Click Employees -> then employee’s name
  • Choose to edit in the Deductions & Contributions section, under Pay
  • Select the cash advance deduction you created earlier
  • Choose either $ amount or % of Gross Pay
  • Mention the amount or percentage
  • Enter the annual maximum amount ➫ click save ➫ click OK.
  • Deduction can be added to their check.

In case you are not able to perform the steps rightly you can connect with QuickBooks Payroll support. The customer support team is proficient enough to handle the issues smoothly and in a short time. Alternatively you can call to the qbpayroll.help to resolve the QuickBooks payroll issues.

FAQs

  1. How can I upgrade my payroll to advanced?

    If you are using the standard payroll and want to switch to advanced payroll then follow these steps:-

    💠Go to your QuickBooks account
    💠Then click on the Gear like icon known as settings option
    💠Select the Accounts and Settings in it
    💠Now from the left side menu, click on the Billing and Subscription
    💠The Section name QuickBooks Payroll showing you the link for 💠Upgrade, click on it
    💠You have to choose the plan that you want to upgrade according to your requirements.

  2. What are the steps to access the payroll reports?

    💠In your QuickBooks account
    💠Go to the Employees menu
    💠Then choose the reports from the following:-
    🔵Pay stubs
    🔵Payroll Journal
    🔵Invoice
    🔵Receiver General
    🔵Worker’s compensation
    🔵Payroll Register
    🔵Non-payroll invoice
    🔵Deposit summary
    🔵Records of Employment

  3. What are the steps involved to access the payroll reports?

    To start with, go to the QuickBooks account >> Employees menu. After that, choose the reports from the following: Payroll Journal, Receiver General, Paystubs, Payroll Register, Invoice, and Non-payroll invoice, records of employment, Worker’s compensation, and more.

  4. How do I upgrade Payroll to an advanced?

    To upgrade your Standard payroll to advanced payroll, you can perform these steps:

    💠 The very first, go to QuickBooks account
    💠 Next, go to the Gear icon and select Settings 
    💠 Now, choose the accounts and settings in it 
    💠 Hit the Billing and Subscription from the left side menu
    💠 Click on the QuickBooks Payroll indicating the link to upgrade with an advanced payroll 
    💠 As per your requirement, choose the desired plan that you wish to upgrade.

  5. How to set up a category to pay Advance in QuickBooks payroll?

    Go to the Employees tab >> Payroll Settings. Pick Categories of Payment, and then press Add. type the name of the category eg Pay Advance. After that, hit Save. Enter the category set up as needed and then hit Save at last.


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