Welcome to today's video. I'm Pam with PPC Inc. Today, we're going to learn how to set up a garnishment in QuickBooks. To start off, you're going to set this up on your payroll item list. So, go to Lists > Payroll Item List. You can either use the control key + N or click on the "Payroll Item" button and select "New". I prefer to use the custom setup option. So, select that. We're going to set it up as a deduction. Give it a personal name like "Dan child support garnishment". Select "Next". Enter the agency it's paid to. You would normally set it up with all the necessary information, but for this video, I'll just do a quick add. The "Liability Account Number" is usually your case number or file number mentioned in the notice you received. I like to include their first name, last name, and account number in this information. Choose the appropriate account number. I like to set up a sub-account under my payroll liabilities so it's all separate. I don't like to put it under just payroll liability. I prefer sub-accounts. Here, I'll name it "Child support - Dan" under the sub-account of "Payroll Liabilities". It won't have any tax tracking and won't be based on quantity. It will be deducted from the net pay. Let's say the amount is $100. Now, we can schedule it. Let me show you how. As you can see, we have "Dan child support garnishment" set up. The first thing you want to do is assign it to the employee so you don't have to remember it each time. Select the employee (Dan) and double-click to edit. Go to the "Payroll Info" tab and select "Dan child support garnishment". Click "OK". Continue doing the child support garnishment...
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How to record payroll remittance in quickbooks Form: What You Should Know
Employer contribution. Step 3: Enter the employee payroll deductions and remitted payments into QuickBooks Online ; Report the income and deductions. In the following window : Click the Payroll Deductions button. Under Payroll deductions, enter all deductions. Click the Payroll Expenses button with your payroll remittances. Under Payroll payments for the account, enter the amount. When complete, click the Add payroll payments button. Add payroll remittances for the account. The Payroll Remittances window displays the amount of your remittances. Step 4: Log into QuickBooks Online Step 3: Payroll taxes are not paid until the employee has earned enough for the employer to withhold the employee's share. The wages owed are the wages earned or the amount of tax owed. There are two forms of tax withheld, employee and employer withholding. Payroll taxes are paid quarterly by payroll deduction, but the payment can be made at any time before the next pay period. The employer withholds the employee share from all remittances. Employee/Employer withholding are also known as a “wage transfer.” The employer will withhold a percentage of remuneration which is then paid to the employee over a period of time. This is known as a “wages withhold.” Employer withholding in US tax are tax-deductible. Employee withholding may be tax-deductible if they are not used to provide welfare, or are for expenses that are not eligible for a refund. The employer must withhold the employee share from each salary payment, but the employee does not get a deduction for the share withheld. This means that, for instance, someone who makes 100k salary annually will not get a credit of 5k due to company withholding. Step 5: The table below shows the income earned and the amount not taken out of your paychecks by employer deductions and employee withholding. Payroll taxes are paid on a quarterly schedule. Earnings before deductions Salary, Salary & Bonus Payroll Deductions Payroll Remittances This example shows a payroll tax paid quarterly by withholding. A new employee's pay check is only due when the payroll deductions and remittance can be processed. Example for a 100k salary annual pay of 100,000.00 (including salary plus bonuses/incentives, etc.) The Employee's annual payroll is 100,000.
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