QuickBooks Payroll subscriptions are designed for smooth handling of the payroll or payroll tax responsibilities. The different payroll packages are featured according to the requirements of the industry. Basic payroll, Enhanced payroll and Full Service payroll are three payroll services offered by Intuit. They vary in cost and price range. It is easy to use software that allows the user with plenty of benefits along with adding retroactive pay to checks.
When there is a hike in the pay of an employee and if it is not notified to the payroll department owed back pay, with QuickBooks you can add the retroactive pay to a current payroll payment. You can do the same to create a bonus payroll item named Retroactive Pay and further add that item in the amount owed to the paycheck of the employee.
As the pay is issued to the employee for a past pay period, you can generate a bonus check in QuickBooks.
With the help of the bonus check you can add the same deductions that you might add to a regular paycheck and the employee payment and the earnings dropped out using an unscheduled payroll. The payment is managed through the retroactive pay item that must be set up prior making payment to the employee. The retroactive pay item performs exactly like a regular bonus item that you can easily added to the check of the employee.
Create Retroactive Pay Item
🔀 Go to Lists -> select Payroll Item List.
🔀 Select Payroll Item -> choose New.
🔀 Choose Custom Setup -> choose Next.
🔀 Choose Wage then Click Next.
🔀 Select Bonus -> choose Next.
🔀 Enter Retroactive Pay for the item name -> Next.
🔀 Choose the account needed to track the retroactive pay.
🔀 Click Finish.
Add Retroactive Pay to Checks
🛡 Go to Employees -> select Pay Employees -> choose Unscheduled Payroll.
🛡 Choose specific employees by checking the checkmark field. Also you can select all employees through Check All button.
🛡 Delete the earnings of the specific employee by deleting the values of the fields comprising of the number entered.
🛡 Approach the Earnings section by choosing the name of the employee.
🛡 Select below the paycheck of the employee -> Choose Retroactive Pay.
🛡 Type the total for the retroactive pay in the Rate column.
🛡 Approach the Employee Summary section.
🛡 Choose the Amount column in the Federal Withholding or State Withholding row, and delete the current values.
🛡 Enter the retroactive pay amount -> enter the “*” key.
🛡 Mention the federal tax or state tax rate percentage into the appropriate “Federal Withholding” and “State Withholding” fields.
🛡 Choose the “=” key on your computer keyboard to calculate the State or Federal tax.
🛡 Select Open Paycheck Detail. You can see the checks you created by clicking Save & Next until you have viewed all selected paychecks.
🛡 Verify the Enter Net/Calculate Gross box to pay the entire amount to the employee -> select Save & Close.
🛡 Choose Continue. Click Create Paychecks once done.
🛡 Click Print Paychecks, Print Pay Stubs or both options to print both a paycheck and a pay stub.
🛡 Then choose Send Payroll in case you choose Direct Deposit [QuickBooks Payroll Direct Deposit] or an Intuit Payroll service.
For more detailed information you can contact QuickBooks Payroll support Number. The customer support team offers instant support to all the QuickBooks problems and queries reported to them. Else you can connect with other QuickBooks support providing agencies like QBpayrollhelp.com.
The support team offers prompt support for all QuickBooks Payroll issues. Call to the toll free number 1844 827 3817 and garner excellent services.