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January 26, 2024
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Payroll Advance Repayment Limit

  • January 26, 2024
  • 1 reply
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We have an employee who was given a payroll advance that will take more than a year to pay off with a minimal weekly paycheck deduction. Our QB is currently set up for advance repayments to have a yearly limit. If the advance isn't paid off within the year will the total amount roll over and start again the next year? Will changing the payroll item to a one time limit make it so that the unpaid balance will carry over to the following year until it's paid off?

Best answer by BigRedConsulting

RE: If the advance isn't paid off within the year will the total amount roll over and start again the next year?

 

Yes!

 

RE: Will changing the payroll item to a one time limit make it so that the unpaid balance will carry over to the following year until it's paid off?

 

Yes!

1 reply

BigRedConsulting
January 26, 2024

RE: If the advance isn't paid off within the year will the total amount roll over and start again the next year?

 

Yes!

 

RE: Will changing the payroll item to a one time limit make it so that the unpaid balance will carry over to the following year until it's paid off?

 

Yes!