How do we set up annual wage in QB?

Hi hazel3,

You are correct that there is no option to select an Annual Pay Schedule in QuickBooks Online. However, there are workarounds to this, depending on when the employee will get paid.

If you intend to pay out the annual wage in a lump sum yearly, you can create a pay run on any existing pay schedule and enter the yearly earnings as an Earnings line.

Alternatively you can set a pay schedule as Monthly and split the annual wage into monthly wages, and create a pay run each month.

However note that the PAYG Withholding amounts will differ from each method, so double-check how much PAYGW you will be paying the employee for the year and use the method that brings you the calculated PAYGW figure. If necessary, you can adjust PAYGW amounts within the pay run by selecting the employee, then selecting Actions, and Adjust PAYG.

Hope this helps!

Bonny