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Why do upgraders from QuickBooks 2004 or earlier need to create new overtime payroll items?

QuickBooks 2005 implemented a new kind of payroll item specifically for overtime pay.

The Overtime Pay payroll item is a multiplier which takes its value from an hourly payroll item. Now, when you give someone a raise, you only have to change their pay rate on the hourly payroll item. When you write paychecks, the overtime payroll item absorbs the raise, because it bases its rate on the hourly item's rate.

If you do not use the Overtime Pay payroll item and instead continue to use the overtime pay payroll items you created in QuickBooks 2004 and before, QuickBooks will not be able to back out your overtime premiums from the wages on which your workers compensation insurance premiums are based. If QuickBooks cannot back out your wages, the workers compensation reports cannot calculate the correct amount you owe for workers compensation insurance.

10/26/2016 12:33:57 AM
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