Hello Divz,
It's essential you're able to add vacation and other pay types so you can calculate your overtime rate. The good thing is QuickBooks offers a powerful platform that simplifies the way you manage your payroll. This will help you get a better perspective of your payroll making sure your staff is paid on time and accurately. I'll be happy to share more information so you can continue doing what you love the most.
Here's how to set up your vacation in QuickBooks:
1. Navigate to Settings ⚙, then Payroll Settings.
2. Click on Pay Schedules.
3. From the Vacation and Sick Leave Policies, section, hit Create.
4. From here, click on Vacation from the category drop-down menu.
5. Enter a Description that'll help you identify the policy you're setting up when you set up your employees.
6. In the Vacation Pay field, choose whether the vacation is paid out automatically or if it's retained.
7. Chosethe Frequency that vacation time accrues. Here are the :
- At the beginning of year
- Each pay period
- Per hour worked
- On anniversary date
8. Enter the number of hours the employee can earn per year. Based on your selections, QuickBooks Payroll will automatically calculate the accrual rate for the employees assigned to this policy during the pay run.
9. Click OK.
I highly encourage you to check out this helpful article here that shows you how to manage your vacation. I also recommend checking out this article here that shows you how to add statutory pay as a pay type.
Give this a try and let me know if you have questions. I'll be a message away in case you need additional support. Otherwise, I wish you a great rest of the week.
