How to enter payroll deductions in QuickBooks? Follow these simple steps…

How to enter payroll deductions in QuickBooks? Follow these simple steps…

How to enter payroll deductions in QuickBooks?

Quickbooks; one of the most demanded accounting software helps companies both small or big to have a complete control over their employee’s payrolls. This is possible because the software allows the management to maintain it within the company without relying on third party services. If you are not using the services already then we would suggest trying it once as it is highly productive and can save you loads of time.

If you are already using the Quickbooks payroll and wondering “How to enter payroll deductions?” then follow the steps here.

Deductions: How to enter them in Quickbooks…?

There are many types of deductions that you might want to enter like:

  • Health insurance for your employees,
  • Wage Garnishments,
  • Federal withholdings or
  • Any voluntary deductions.

Though you can find much of the items within your Quickbooks accounts, if there is something that you are still looking at then you can create the items yourself. To do just that and enter payroll deductions, follow the steps below:

Are you a Quickbooks user?
  1. Within your Quickbooks dashboard, select the List tab. This you can find on the top navigation menu.
  2. Now from the list of options, click on the Payroll’s tab.
  3. Here you will find a list of all the deductions that you would want to apply. But if in any case, you are not able to find the deductions then you will have to list them by yourself.
  4. Now choose the deduction that you would want to work with. To select, you would need to double click on the same.
  5. In the dialogue that appears, enter the name of deduction exactly like as it appears on the paychecks. This practice will later help you to recognize the items. Once you do that, click on Next.
  6. Since the deductions are associated with someone thus Type in the name of the organization, which you are paying this too.
  7. Select the vendor whom you want to associate your deductions too. This you can do from the drop-down list provided. If you cannot find that already then create one and select the same.
  8. Every agency is allotted a specified number. You would need to provide that number here.
  9. Now choose the liability account and hit next.
  10. Click on the drop down button and choose the tax route type. If you need to simultaneously report your deductions on W2 form and provide all the info. here. Choose next.
  11. Follow the set of instruction that will now follow as they will be self-explanatory.
  12. Choose the Gross pay and rate at which the gross pay should be withheld.
  13. Choose the annual limit box and now your accounting software will trace it for a year long.

Though the above deduction that you just setup is pretty standard and will be floated to all of your employees within the payroll system. But what if, you want to have deduction only for any individual employee.

If this is the scenario then here is how to move forward.

Deduction: Individual employee.

In order to set deductions for an individual employee, you would first have to define them at the organizational level and then will have to assign them to the employees, eligible.

  1. First check in the settings of your payroll. This you can do by navigating to the gear icon and choosing the same from the drop down menu.
  2. From the dialogue box that will appear now, choose the deductions tab and add the contribution.
  3. Now choose the category under which your deductions will fall into. Even select the type of your deduction. If you can’t already see the “type” deduction then we would suggest you contact us.
  4. Since you are setting individual deduction, thus it would be better to define it in the description area. This will help you to recollect the entry whenever you want.
  5. Click Ok, when all done.

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