Employees & Payroll
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Does QBO adjust source deduction rates as they change??
I'm thinking this so far: Bank Deposit - Received from Minister of Finance - Deposited to my bank Question: What account does this get assigned to? Nothing seems right to me. The tax credit was related to payroll but all my payroll accounts are liability accounts. None of my income accounts seem right either and I don't like the vague "Uncategorized Income" account. Any suggestions would be great. Thanks!
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There is no checkbox to mark time activities as Taxable in the Canadian version of QBO. The checkbox exists in the US version . Are there any plans to add this checkbox to "single time activity" in the Canadian version of QBO? I spoke to tech support on the phone and he said this was a "product limitation" of the Canadian version. We would like this feature added so we can make use of the "automatically invoice unbilled activity" automation feature in advanced settings of the Plus plan. As it sits now, all time added automatically is marked as "out of scope" tax and we need to go into each invoice and manually adjust the tax line by line. This defeats the purpose of automation.
I've created a new pay type for reporting and tracking purposes. We've already run two payrolls. Is there any way to go back and re-allocate hours to the new pay type on processed payroll? The actual pay isn't changing just the type that I sort it under.
I took over my employers QuickBooks in Oct, 2020. I am STILL trying to get things under control, and have not been successful. My employer set it up in 2018, and never once has done any reconciling, Year end tasks, Invoicing, bank transaction categorizing etc. His personal bank account is his business account, and I don't know how to set those transactions aside so they don't affect his Bank Balance VS his Quickbooks balance or his business spending. Right now its out by over 400K because of this. What can I do? Where do I start? I've been trying to just enter his invoices and at least his employee's data, but he has no desire to change the way he runs his business/ bank accounts. He wants it to somehow magically be fixed, and short of starting over completely I have no idea what to do. I have training in Sage accounting, but somehow Quickbooks is entirely beyond me, and I actually hate it but can't justify telling my employer to pay for more expensive software, when it will just end u
I have an employee that has resigned and I need to calculate their vacation pay. They are on salary, and if I understand correctly I will have to change them to hourly.However, what do I do if part of their term was at one wage and they received a wage increase for the latter part?I can manually calculate everything however I legally need it to show up on their final paystub.I could really use some help as TODAY is the payroll cut off and need to put it into QuickBooks correctly.Thank you!