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July 5, 2019
Question

How do you record Employee Gross Salary with Deductions such as Gov't Loan Payments, Gov't Health Care, Company Loan Payments. Note that the Gov't loan payments and Gov't Health care payments are of the employees expense. I don't use the Payroll s

  • July 5, 2019
  • 1 reply
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Here are some sample situations: 1. Employee has a company loan. She pays of a little bit of her company loan by salary deduction. 2. Employee has to pay off government loans, healthcare loans, etc. I deduct these costs from her gross salary and I pay them to the government. Note that these are not my expenses. I only pay for them in behalf of my employee after these has been deducted from her salary.

sfd

1 reply

IamjuViel
July 5, 2019

Hello there, @chowyunhung.

 

Creating a journal entry enables you to record payroll related expenses in QuickBooks. I can provide you with details on how this works.

 

First, let's ensure to create an account to associate with each payroll expenses.

 

Here's how:

  1. Go to Accounting.
  2. Choose Chart of Accounts.
  3. Click the New button.
  4. In the Account Type drop-down, select Expenses.
  5. Complete the account information.
  6. Click Save and Close.

Once you've created all the expense and liability accounts, let's start creating a journal entry.

  1. Click the Plus Icon (+).
  2. Select Journal Entry.
  3. Enter the date of Journal Entry.
  4. In the Accounts Column, add the Debit and Credit accounts.
  5. Enter the amounts.
  6. Click Save and Close.

I also recommend consulting with your Accountant so you'll be guided properly.

 

If you're using PaySuite, you may refer to this article: Manually pay payroll liabilities in PaySuite.

 

You can also visit these articles for more information about recording transactions in QuickBooks:

Keep me posted if you have other questions. I'm always here to help.