Skip to main content
December 6, 2022
Question

Payroll

  • December 6, 2022
  • 2 replies
  • 0 views

We have a new small business. My daughter and I are partners in the LLC. We would like to begin paying her a small salary, not necessarily automatic. I have  Quickbooks online and use Square POS. 

2 replies

Rainflurry
December 6, 2022

@Ymclain 

 

***EDIT: I misread your post.  Partners cannot receive a salary, they need to be paid by distributions

 

For such limited needs, consider using a free online payroll calculator.  QB Online Payroll is going to run you almost $1,000/yr for one employee.  Not only will it save you money, but figuring your own payroll is a fantastic learning experience - really.

 

JessT
December 6, 2022

We appreciate your input, and your feedback about our pricing, Rainflurry.

 

 

Hi Ymclain,

 

I'm sharing this article about recording partner investments and recording draws for your reference: Record an owner's contribution or capital investment in your business.

 

If you need to do payroll instead, but do not wish to subscribe to our payroll service, you can manually track your employee's pay. Or, subscribe to our payroll plans by going to the Payroll menu on the left-hand side.

 

Please refer to an accounting professional so you will be guided on how to treat your daughter's pay.

 

If you have other questions in mind, feel free to go back to this thread.