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emcfaull-mcfaull
Level 1

How do you process a mid-month cash advance?

 
9 Comments 9
JamesM4
QuickBooks Team

How do you process a mid-month cash advance?

Hi there, 

 

Thanks for connecting with us in the Community. QuickBooks is a versatile program that's designed to help you manage your income and expenses with ease. Rest assured, I'll be happy to provide the info you need so you can process a cash advance in QuickBooks. 

 

In order to achieve the goal you've reached out about, I encourage you to check out the steps provided in the article here. The article provides the steps you need to follow in order to set up a cash advance that you can assign using a mid-month date. I encourage you to browse though the article and if you have any other questions, feel free to reach back to me in the comments below. 

 

I'm here to steer you in the right direction so you can achieve your QuickBooks goals. 

emcfaull-mcfaull
Level 1

How do you process a mid-month cash advance?

Thanks James ! 

I have set up the cash advance as such but wondering how to pay our employees at Mid-month and direct deposit.  I read somewhere that this cash advance would need to be completed by cheque or perhaps do I need to upgrade our payroll version to Premium from Core?

JamesM4
QuickBooks Team

How do you process a mid-month cash advance?

I see what you're saying. Just to confirm, are you using the US version of QuickBooks or the Canadian? 

emcfaull-mcfaull
Level 1

How do you process a mid-month cash advance?

Canadian version

JamesM4
QuickBooks Team

How do you process a mid-month cash advance?

Thanks for confirming. You can use the cheque function to pay the advance, however, if you'd like to for the taxes to be taken into account, I recommend using paying the advance using a bonus paycheque. Here's a helpful article with more info on how to do that. I'll be here in case you have other questions. 

emcfaull-mcfaull
Level 1

How do you process a mid-month cash advance?

Sorry, but that's not what I'm asking.  I would like the cash advance to be direct deposit, and not a manual cheque.  So I'm wondering which version of Payroll add-on that I require to be able to do this?  Thank you

JamesM4
QuickBooks Team

How do you process a mid-month cash advance?

In order to pay the advance, you'd need to use the cheque or the bonus pay method mentioned above. This applies to all the payroll subscriptions packages. Let me know if you have additional questions. 


 

emcfaull-mcfaull
Level 1

How do you process a mid-month cash advance?

Oh great thank you!!  I appreciate you answering all my questions.  Merry Christmas!

JamesM4
QuickBooks Team

How do you process a mid-month cash advance?

No worries. I'll be here in case you have other questions. Otherwise, I wish you a happy festive season!

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