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January 26, 2024
Question

How do i get qbo to include the taxable benefits in the gross wages on the paycheque? I am trying to get the pension plan calculation to calc on gross plus taxable benef

  • January 26, 2024
  • 1 reply
  • 0 views
the pension plan is a % and it only wants to calc the percentage on the gross but i need it to calc on gross plus the non cash taxable benefit (Life & AD&D)

1 reply

January 26, 2024

Hello JodiW102,

 

Thanks for reaching out to us here.  QuickBooks Online Payroll enables you to set up employee deductions and contributions seamlessly.  However, it's essential that you're aligned with government guidelines, when it comes to determining whether the benefit you provide to your employee is taxable, and has to be included in their employment income.  Please refer to the CRA website for detailed information.  If you're uncertain, I suggest speaking with an accounting professional for their expertise and best course of action.  If you don't have an accountant, we can help you locate a ProAdvisor in your area.

 

For your reference, here's how to calculate Canada Pension Plan in QuickBooks Online Payroll.

 

If you have any other questions, feel free to touch base with us again.  We would be glad to assist.