With February nearing its end, it's a great time to start making sure your payroll is in top shape for next tax season. Accurately setting up your deductions now only takes a few minutes, and will save you a lot of time in the long run. Our payroll solutions are designed to support most standard deductions by default, so I'm confident we'll have no problem setting this up.
To prevent inconsistencies in reporting, a payroll item's type is fixed when it's created. While the name can be changed at any time, the easiest way would be to create a new item for this deduction with the correct settings. QuickBooks Online Standard Payroll makes it easy to create and assign deductions to your employees. To ensure you select the correct type, check out our explanation of supported pay types and deductions. Once you're ready, it's just a few simple steps:
Advanced Payroll Powered by WagePoint elevates the payroll experience by supporting custom deductions. If you don't find the right one, it's just as easy to request it:
Here's a great article with some extra info: QuickBooks Online Advanced Payroll - Custom income & deductions
I've got your back, so don't hesitate to reach out if you have any more questions.