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Fill in the YTD Adjustment window

Salary and Hourly Wages: In this area of the window, enter totals for gross salary or hourly wages paid during this period. Do not enter net salary or wages.

  • Enter hours worked during the period if you want hourly totals to appear on reports.

  • Enter sick and vacation time taken during this period. Enter the number of sick and vacation hours used, and the corresponding wage amounts. Be sure to associate the hours and amounts with the correct payroll item (Sick Salary and Vacation Salary for a salaried employee; Sick Hourly Rate and Vacation Hourly Rate for an hourly employee).

  • After you enter the totals for the hours used, you may also need to specify the accrual rates for sick and vacation hours and the maximum hours available to the employee.

  • Add any bonus, commission, or piece work items.

Other Employee and Company Payroll Items: In this area of the window, enter totals for all other earnings, withholdings, and company-paid taxes or payroll expenses for this employee for this period. Include all accrued taxes regardless of whether you have paid them.

  • Enter an amount for the employee or company portion of social security and Medicare. When you enter one portion, QuickBooks enters the other portion for you, because the amounts should match. QuickBooks uses the separate amounts to track totals for employee withholding; it uses both portions to track your total tax liability.

  • Add payroll items for one-time-only payroll amounts, such as employee loans, that occurred during this period. You must enter anything that affects compensation or payroll taxes.

  • You must enter all tax liabilities created because of the compensation paid, even if the taxes were paid later and even if they were company expenses. For example, if the compensation was subject to state unemployment tax, enter the amount of the tax.

  • If you decide to track company-paid expenses, such as insurance, as a payroll expense for each pay period, you must enter amounts for the employee in this window. Later in the wizard, you must also enter amounts you paid, so that QuickBooks can keep track of how much you owe.

Important: If the amount for a payroll item was $0.00 during the period, enter the item but leave the Amount field blank (don't enter $0.00).

For every employee-paid and company-paid tax in the YTD Adjustment window, QuickBooks tracks the wage base for reports and payroll tax forms. You can view the wage bases and change them if they are incorrect.

11/22/2017 4:57:42 AM
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