New Qualified Overtime Compensation

The system can't automatically calculate the Qualified Overtime Tracking amount if a paycheck includes multiple overtime line items or different overtime rates. You'll have to enter it manually. To ensure accurate figures, don’t deactivate this feature. Additionally, yes, you can override each employee’s W-2 to add or adjust it as needed.

If you need to adjust an employee's year-to-date tracking balance, you’ll have these options:

• To increase the balance: Add the amount to the "Qualified Overtime Tracking" pay item on their next paycheck. This won't affect their net pay or taxes, as this is a tracking-only item.
   
• To decrease the amount: Edit the details of the employee’s previous paychecks as needed.
   

For more information, check out this resource: Impact of the No Tax on Overtime provision to QuickBooks Payroll.

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