cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Everything you need to know about banking in QuickBooks Online - Discover more
leah-kim-jcinus-
Level 1

How can I add student loan repayment for an employee?

Hello,
I've received mail from HMRC asking me (the employer) to start deducting a student loan from July.
The mail also included his NI, Payroll #, and start date to deduct.
How can I deduct it?
I searched for it here but couldn't find it.
I'm using the advanced payroll version on QuickBooks.

I'd appreciate your help in advance.
Cheers,

Insoo
1 REPLY 1
Carneil_C
QuickBooks Team

How can I add student loan repayment for an employee?

I'm very eager to show you how to add a loan repayment for an employee in QuickBooks Online (QBO), leah-kim-jcinus-.

 

Let's add a payroll deduction category in QBO Advanced Payroll to start deducting a student loan from your employee's salaries. You can follow the process below on how to do so:

 

  1. Go to the Payroll menu and choose Payroll Settings.
  2. Select Deduction Categories.
  3. Click Add to create a new deduction category.
  4. From there, name your new deduction category.
  5. Choose whether it will be a pre-tax or post-tax deduction. You can reach out to your accountant if you're unsure of what to choose.
  6. Add an external ID. Then, select the impact on the National Minimum Wage/National Living Wage.
  7. Hit Save once done.

 

I've got this reference for detailed information about adding deductions categories: Add deductions categories in QuickBooks Online Advanced Payroll. It includes creating recurring deductions and checking their status.

 

Moreover, you can read this article if you want to create new leave categories and leave accruals: Add leave categories in QuickBooks Online Advanced Payroll and QuickBooks Bureau Payroll.

 

Please know that you're always welcome to post here in the Community space if you have more queries about payroll deductions in QBO. We're here to help.

Need to get in touch?

Contact us