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StevenPerryCustomCarpentry
January 16, 2022
Question

vacation pay

  • January 16, 2022
  • 1 reply
  • 0 views

My company has an agreement that we pay 2% vacation pay paid out on every cheque and then we have a company wide paid week off in the summer. How can i input this in QBO as it defaults to 4% and wont let me change it.

1 reply

Angelyn_T
Angelyn_T
January 17, 2022

Hi there, @StevenPerryCustomCarpentry. Let me share with you some information about adjusting vacation holiday pay in QuickBooks Online (QBO).

 

QBO allows you to create a new vacation policy from the employee's profile so you can customize your employee's vacation pay. However, the rate or percentage only ranges from 4% - 100%. Setting up or changing it to 2% is currently unavailable.

 

I can see that your company has an agreement that you pay 2% vacation pay paid out on every cheque to your employees. I'll take note of this information and pass them along to our product engineers. This way, they'll be aware of the feature needed and adjust the rate moving forward. Rest assured they're working nonstop to enhance the product and deliver the best experiences for all QuickBooks users.

 

For now, you may reach out to your accountant or a tax expert on how to handle the new vacation rate. They can give you options or workarounds on how to post your transactions to calculate the rate accordingly.

 

To learn more about the vacation policies in QBO, you can open these articles:

 

 

Additionally, you can get more resources while handling your payroll entries in the future form here: Process or run payroll.

 

If you have any other follow-up questions about vacation pay, let me know by adding a comment below. I'm more than happy to help. Have a good one!

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