Processing the final pay cheque for an employee who has to make a payback to the company for product purchased on their behalf. How can I enter so the monies are deducted from their final cheque? And so it does not affect anything down the path such as T4s, ROE, GST, etc. Thank you
Thanks for connecting with us here. It's great to learn you're taking advantage of the powerful features in QuickBooks so you can streamline your accounting. I'll be glad to point you in the right direction so you can get the resolution you need in a timely manner.
Making sure you're recording your transactions properly is an essential step for maintaining clean books. To ensure accuracy in your books, I recommend reaching out to an accounting professional for expert advice on how to enter the transactions. If you're not in contact with a professional, don't worry, you can search for one using this link here. Otherwise, here's how to enter a final pay:
In case you need to calculate the vacation pay, check out this helpful article for more info on: How to calculate vacation pay out for employee's final pay cheque.
I'll leave this question open in the Community so other accountant users can share their advice. Otherwise, feel free to ask other questions, I've got your back.
Thank you for the response, but this does not relate to vacation hours. The company made a purchase on behalf of the employee. We wish to deduct the amount owing from his final pay cheque. It's a one off deduction.
I see what you're saying. You'll have to manually enter the deduction on the employee's final pay but first, you'll have to add the deduction so it reflects when processing the payroll. Here's a helpful article that shows you how to: Set up and add deductions and contributions to an employee's payroll. Let me know if this info helps. I'll be here.