If you process payroll for your employees, you can now include their benefits in the payroll. This can be a big time saver, and it's easy to do in QuickBooks Online Advanced Payroll.
There are many benefits to payrolling benefits in Advanced Payroll. It allows you to apportion the cash equivalent value of a benefit over the tax year, and this amount is added to employee's taxable pay each period and taxed accordingly. Benefits will show on the employees' payslips.
To access your payrolling benefits, to go to:
- Payroll, and then Payroll Settings.
- Under Pay Run Settings, select Benefit Categories.
- In the processing options section, tick the Payrolling box.
- Choose the tax year you registered your business.
- Select Save.