Employee advance pay quickbooks desktop (manual payroll)
Hi,
I'm doing payroll manually in quickbooks desktop. The employee would like mid month an advance of $1000. So I write a cheque and post it to Employee Advance 'other current asset' account. This advance gets deducted from the paycheck at the end of the month, but I'm not sure how to enter this. Would this be correct:
Write check to employee for i.e. $3000:
Payroll Expenses: 3000
Payroll liabilities CPP employee: -142.19
Payroll Liabilities EI employee: -47.40
Payroll liabilities income tax: -360.27
Employee Advance (other current asset): -1000
Thank you
