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Sid12
April 30, 2021
Question

Pension arrears

  • April 30, 2021
  • 1 reply
  • 0 views

As I hadn't set it up in quick books in time I need to charge my employee for Pension arrears how do I do this? Do I use the After tax deduction or the repayment option?  I have the values from the Nest website but just not sure how to do this on the payroll. Thanks

1 reply

JasroV
JasroV
May 3, 2021

Nice to have you in the Community space, @Sid12.

 

I'd be glad to walk you through the steps on how to set up your employees' pension in QuickBooks Online (QBO). 

 

Let's set up a pension scheme for your business. Here's how:

 

  1. Go to the Gear icon and select Payroll Settings.
  2. Select Pension Settings.
  3. Click Add Pension Scheme Manually.
  4. Enter your Staging date, then Save.
  5. Select the Manual Scheme and fill in the needed details.

 

Once done, you'll be able to assign the pension scheme for your employee. You can also see this article for more details: How to set up workplace pension scheme in QuickBooks Online Advanced Payroll.

 

With regards to whether to use an after tax deduction or prepayment option, it would be best to consult your accountant for the best action to take. This way, you'll be guided accordingly in running your payroll seamlessly. If you're not affiliated with one, you can visit our ProAdvisor page and we'll help you find one from there.

 

I've also collected these resource that you can read for additional guidance managing your pension:

 

 

You can always tag me in your reply in case you have other queries managing your employees' payroll. I'm always around ready to lend a hand. Stay safe! 

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