Hello, is there any option on QBO payroll setting that can automatically update the vacation pay rate from 4% to 6% after 5 years of consecutive services/employment?

Hi evelyn23,

Welcome to Community!  Having the vacation rates automatically adjust would be a great time saver if you have multiple employees.  However, this isn't something that's currently available in QuickBooks Online.  If you'd like to see this moving forward, please don't hesitate to submit a suggestion to our Development team.  In the interim, you can make the necessary changes to employees by following these steps;

1. Open Payroll and then Employees from the left menu

2. Select an Employee and then Edit employee

3. Click on the Edit ✎ by Let's create a new vacation policy for [employee name]

4. Hit Done to save the changes

Here's a helpful guide for future reference.

Please feel free to reach back out if you have other questions.  We'd be happy to help!