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Level 1

accounting for new "other" payroll deduction

Is there a way in Quickbooks online to specify the general ledger account for a new "other" payroll deduction?

 

I am trying to set up an "other" payroll deduction to increase the owners equity account, but cant seem to be able to specify the account I want the new deduction to go to.

 

Thanks

1 Comment
Content Leader

accounting for new "other" payroll deduction

Happy Monday, @averyl.

 

Setting up the ledger accounts for "other" Payroll Deductions in QuickBooks Online is a breeze, just follow these steps:

 

Set up Payroll account preferences

  1. Click the Gear icon (⚙) and select Payroll Settings.
  2. Under Preferences, click Accounting.
  3. From this screen, you can assign the ledger accounts for each of the standard Payroll Deductions. Other Liability & Asset Accounts are specified at the bottom.
  4. Select Customize and click the dropdowns (▼) to select new accounts. Click OK once finished.

I'm including a video example for your convenience:

 

 

We also offer a guide on setting up payroll accounting preferences that you may find helpful. Please know I'm always available here for all of your QuickBooks needs. Thanks for coming to the Community, here's to a safe and productive week ahead.

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