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HVanepps
February 1, 2024
Question

Changing Salary Amount

  • February 1, 2024
  • 1 reply
  • 0 views

Employees are paid monthly, first paycheck has already been paid. If I increase the annual salary now, will the paychecks going forward only be the salary amount divided by 11 (the remaining pay runs for the year) or will it be divided by 11 plus the amount 'shorted' in the January paycheck?

1 reply

JaeAnnC
JaeAnnC
February 1, 2024

Hello there, @HVanepps.

The updated pay rate for an employee's annual salary will take effect moving forward in QuickBooks Online (QBO). However, it's important to note that it will be divided by 12, regardless of whether you have already processed the payroll for the initial month.

Additionally, you'll want to run payroll reports in QBO to access employee information, wages, taxes, and deductions, which are relevant during tax filing.

Feel free to visit the Community whenever you have clarifications about updating an employee's annual pay rate in QBO. We're always here to lend a helping hand. Take care.

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