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Lwcc
Level 1

Adding New Payroll Item That Is Not Listed

Our company has decided to drop group health insurance for all eligible employees. In so doing the company now wants to wage up the difference between the cost of the "marketplace insurance" and what is subsidized. For simple illustration it would look like this; the marketplace insurance is $15, the government subsidy is $10, making the wage up amount $5.

I want to be able to show the $5 wage up on a seperate line on their pay stub and I wanted to name it "MW Comp", which stands for Marketplace Wage Up Compensation.

Is it possible to create a new item in the Payroll Item function on the desktop version of QB?

Thank you for helping.

2 Comments 2
KlentB
Moderator

Adding New Payroll Item That Is Not Listed

Yes, that's definitely possible, Lwcc.

 

You can create a payroll item for each type of compensation you want to list on a paycheck. I'll guide you how:

 

  1. Go to the Lists, then choose  Payroll Item List.
  2. Click Payroll Item drop-down menu, then hit New.
  3. Select Custom Setup, then Next.
  4. Choose the appropriate payroll item type.
  5. Follow the on-screen instruction to complete the setup.
  6. Enter "MW Comp" in the Name field, then Next.
  7. Set the appropriate account for tracking this expense, then select Finish.

I'm also adding this article to help track your payroll transactions in QuickBooks Desktop: Customize payroll and employee reports.

 

Just click the Reply button below if you have any other concerns or follow-up questions. Have a good one.

Lwcc
Level 1

Adding New Payroll Item That Is Not Listed

KlentB,

Thank you, that worked perfectly. I apparently did not go far enough in the selection process for entering the new compensation. Have a great day.

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