To keep any business going, you have to keep your employees motivated. And for this motivation, you have to pay bonuses to them. The accounting software’s available these days help you make such calculations and set up bonus payroll item. There are different ways to pay bonus to an employ. This could be bonus on his/her regular salary or may be a cash or gift voucher or a completely separate cheque for bonus amount only. Let us check some steps on how to go about paying bonuses.
What are the steps to set up bonus payroll item?
Here are some simple steps to follow if you wish to pay your employees one-time bonuses. It is possible for you to set up one or more payroll items to track the bonuses you pay.
Step 1: To start the process, you should look for the Lists menu.
Step 2: Then, you should click the Payroll Item List from this menu.
Step 3: After this, the Payroll Item Button should be clicked by you.
Step 4: Next step is to click New.
Step 5: You would get to see two options for setup. Used by most of the users is the EZ setup advanced users work on Custom setup. You should choose whatever suits you and then click on the Next button.
Step 6: Now, you should choose the item type that you wish to set up and click on Next.
Step 7: After this, you would get some onscreen instructions. You should simply follow these instructions.
Step 8: In case you want to go to the previous window, simply click on the Previous button and you would be back to the previous window
Step 9: The last step is to click the Finish button and your job would be done.
What are the steps to create a bonus payroll item in desktop payroll?
Using an accounting software, it is possible for you to generate a bonus payroll item to pay a bonus paycheque to employees. You can create a bonus pay cheque in desktop payroll using the following steps:
Step 1: You should start from the Desktop menus at the top and then look for Lists > Payroll Item List. Now, you should select this option.
Step 2: After this, look at the lower left of the Payroll Item List and select the Payroll Item button > New.
Step 3: Next, you should select Custom Setup, and then select Next.
Step 4: Now, you should select Wage, and then Next.
Step 5: You would now get to see the option Bonus, select it and then press Next.
Step 6: You should now enter the name of the item and move to Next.
Step 7: Now, choose the expense account you want the item to track to and you are through with the steps. Select Finish and your bonus payroll item would be done.
Scope of Services
We are confident that you would find it very easy to set up bonus payroll item in QuickBooks. In case, there are any issues we are available 24×7 to help you. You can call QuickBooks Technical Support Toll-free number +1-800-961-6588. We guarantee the best of service in the least possible time.