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Established Member

Total carry over

When writing pay checks for the first time in the new year (2019) employee loans/advance totals from last year (2018) are not showing. How do I get them to carry over to the new year?

10 Comments
Established Community Backer ***

Re: Total carry over

Because the Other Current Asset employee loan balance can be repaid through payroll or not, so Payroll is not the place you really see the Actual Balance Owed. The Limit for the calendar year in Payroll helps you avoid Over-deducting, if you use that method and use that method Only, so update the Employee name to update the Limit for this year. And if they make manual repayment outside of Payroll, update that limit Again.

Experienced Member

Re: Total carry over

I need to do this too.

Can anyone provide a step by step way to show the employee still owes on 2018's (last years) advance?

QuickBooks Team

Re: Total carry over

Thank you for joining the thread, @Jill B RCLLC.

 

I'm here to help run a report which shows all the employees' owes/balances for the previous year.

 

You may need to run the Payroll Summary report and filter the payroll items for advance and advance repayments.

 

  1. Click Reports at the top menu bar.
  2. Select Employees and Payroll.
  3. Click on Payroll Summary
  4. Filter the dates.
  5. On the reports page click on Customize Report.
  6. Go to the Filters column.
  7. Look for Payroll Item.
  8. Select Advance and Advance repayments.

For additional reference, you may check this article: Create Employee Advances And Repayments In QuickBooks Desktop.

 

Stay in touch if you have any other payroll concerns, we're always here to help. Have a wonderful day!

Established Community Backer ***

Re: Total carry over

Any Payroll report is not accurate for what an employee owes. As I noted, they can repay outside of payroll in addition to inside payroll.

 

You track loans or advances as Other Current Asset; you list this as the Expense on the check, or as the non-taxable net pay addition to the paycheck. Now you have the Reporting on the Other Current Asset account, set it to total by Name.

 

Then, the employee repays through personal cash, personal check, and/or any combination of that along with Payroll deduction. That means the Custom report, set to total by Name, for ALL dates, is how you see and manage Per Employee loan balance still owed. It's not in Payroll. It's in that Account, where all the actual financial data is being tracked.

 

Payroll is Activity. Accounting is Balances.

Experienced Member

Re: Total carry over

I do know how to run the reports. But I wanted to know if there is a way for the total that they owe to be carried over to the new year? We only do pay back by payroll deduction. Quickbooks is great at keeping total all year, but then stops at the last paycheck of the year. In past years we have had to write dummy loan checks before the first payroll so that the amount is in there. This is a pain. There seems like there should be a way for Quickbooks to carry the total into the new years payroll.

Experienced Member

Re: Total carry over

Thank you, but we only do payback through payroll.

QuickBooks Team

Re: Total carry over

Hello again, @OrangeInc1.

 

Allow me to chime in the conversation and help find a way to carry over the total of your employee's loan/advance from the previous year to the new year's payroll.

 

If this is through payroll deduction, you can edit the rate and limit from the employee's payroll setting. 

Here's how:

 

  1. Go to the Employees menu and select Employee Center.
  2. Double-click the name of the employee on the Employees folder.
  3. Select the Payroll Info tab and edit the amount and limit of the Item Name for the employee's loan/advance.
  4. Once done, click OK.

 

As always, you can contact our Desktop Payroll Support if you need assistance in going through the steps.

 

Let me know if this helps. I'll be here if you have other questions. Have a good one.

 

 

Experienced Member

Re: Total carry over

I am not sure responders understand what we are asking.  

Let me try again:

 

EMP gets a 500.00 advance on Dec 01, 2018

On his paycheck, it shows 500.00 Advance

 

He only pays back 200.00 during Dec 2018 so his YTD totals show

500.00 ADV

200.00 REPAY ADV

and on Dec 31, 2018 - he still owes 300.00.

 

 

On January 01, 2019 Quickbooks resets that amount to ZERO.

I 'get this' because there are no YTD transations (yet) 

And yes - it is still in the asset account (I know this) but his paycheck no longer shows he owes any money (because the YTD amounts are zero now. Yet he still has to repay what he owes from 2018)

 

What I need is the best way to show he still owes the money on Jan 01, 2019 on his paystubs - so when we deduct - he can see when his balance is paid.

 

If I could do a JE for a payroll item, I would just do a JE moving the open amount to 2019.

That is not an option.


I also want the employee to see his 'balance owed' on his pay stub so there is no dispute in a month or two - how much was still owed and how much he paid (YTD is fine) towards his advance. 

 

I can't be the only one that needs to do this. LOL 

 

Experienced Member

Re: Total carry over

OH! THIS may work!! 

QuickBooks Team

Re: Total carry over

Hi there, @Jill B RCLLC.

 

Thank you for getting back and providing extra details. 

 

Currently, the option to add the "balance owed" on the employee's paystub is unavailable. I personally sent your request to our engineers to add this as a future feature in QuickBooks. I recommend you do the same. Just click the Help tab and choose Send Feedback Online.

 

On the other hand, creating a journal entry for the payroll account tag under the employee's name is an option but this will not correct the amounts reporting on your tax forms.

 

If you'd like the correct amounts to reflect, you can call our phone support team for guidance. They have the tools to help you in setting up your payroll.

  1. Click this link: https://payroll.intuit.com/support/contact/?infosrc=qs&service=16.
  2. Select the issue/topic.
  3. Click the View Contact Info button to see the support number.

Feel free to let me know if there's anything else you need or additional question about payroll. I'm here to provide more help. Have a good one.