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Give an employee an advance

You can use QuickBooks to give an employee an advance on upcoming pay, which can then be reimbursed to the company through payroll deductions. Use this procedure if your company has a policy that allows you to give your employees advances for personal reasons.

Note: This procedure differs from the one you use to issue an employee advance for customer purchase.

To do this task
  1. Create an asset account to track the advance.

  2. Create a payroll item of the type "addition" called "Employee Loans" or "Advances."

    • On the Expense Account screen, enter the asset account being used for the loan.

    • Select None as the tax tracking type.

  3. Use this addition on the employee's paycheck.

See also

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