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Z
Zsozso
April 1, 2020
Question

Wage Subsidy - Unemployed Help Centre

  • April 1, 2020
  • 1 reply
  • 0 views

Hi,

 

I have a quick question. One of my clients hired a new employee and we are receiving wage subsidy after his wages. How should I enter that into Quickbooks?

 

 

Thank you.

1 reply

A
AndréB12
April 1, 2020

Hey Zsozso,

 

The temporary wage subsidy is a great initiative to support businesses impacted by the current situation. This is a valuable benefit that makes it possible to continue paying your employees. We're still working with the CRA to figure out the best way to integrate this into your books. In the meantime, here are a few useful resources to help you get started:

Hope this helps! Feel free to reach out any time.

Z
ZsozsoAuthor
April 1, 2020

Hi,

 

Thank you for your prompt reply, but my question is not about that government's wage subsidy. Let me try it again: we hired a new employee through an unemployment centre and they are helping us with paying half of the wage of the employee for 6 months. I'm sending them the pay-stub and they are sending us a cheque with their part of the wages. I'm not sure how to put the cheque into Quickbooks. Can you please help me with that. 

A
AndréB12
April 1, 2020

Hello again Zsozso,

 

Thank you for clarifying. It's crucial for payroll to be recorded accurately, so I want to make sure you're given the appropriate advice. This is a question best answered by your accountant. They'll be able to assist you in setting this up correctly, without having a negative effect on your year-end forms. Check out our Find an Accountant page to find a QuickBooks pro in your area. You can enter in your postal code to find accountants near you, and filter for the product you're using.

 

Let me know how this goes.​​​​​​​

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