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terri-lynn-giffo
September 15, 2021
Question

How can we keep track of employee's banked hours using the Quickbooks online payroll?

  • September 15, 2021
  • 1 reply
  • 0 views
I'm setting up quickbooks online, entering employee's year-to-date information, but many of our employees have banked hours and banked over time hours, where do I enter this?

1 reply

A
Alex M
September 15, 2021

Hi there terri-lynn-giffo,

 

I'm happy to hear that you're using QuickBooks OnlineParoll to help you with your business's payroll needs. It's a great tool able to help you calculate the amount of vacations hours accrued on each pay so that you can pay them out later. I can provide some information about banked hours in QuickBooks Online Payroll.

 

The only type of hours that can be banked up is vacation accrued on pay. Overtime can be paid out to an employee, but overtime hours can't be accrued in the system, and that's the same if you accrue regular pay hours as well. Those hours would need to be tracked outside of QuickBooks.

 

If you want to add overtime as an additional pay type for an employee, navigate to the Payroll tab, then Employees. Click on the name of an employee you want to have with overtime pay to open their profile, then click on the Pencil icon beside Pay. Scroll down to the section titled How much do you pay (Employee's name)? Select the Pencil beside Additional pay types, then select Overtime.

 

To adjust or add a vacation balance to an employee, go to the Employees tab, and Payroll section. Click on the name of the employee you want to affect, then the Pencil to the right of Pay. Scroll down to the Vacation Policy section. If you want them to accrue hours based on the number of hours worked., make sure their policy is set to have so many hours accrue per hour worked. If you need to add or edit the existing balance for hours, click on the Make adjustments option.

 

I can see how being able to keep track of other types of banked hours would be a feature that would help you with managing your payroll. I recommend you leave feedback in the system by clicking on the Gear icon, then Feedback. The comments made in that section are taken into consideration when our developers design new features for QuickBooks Online. I'll pass along your feedback on my end as well.

 

If you have any other questions, feel free to reach out here.

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