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GWPlumbing
Level 2

Payroll Advance Repayment Limit

We have an employee who was given a payroll advance that will take more than a year to pay off with a minimal weekly paycheck deduction. Our QB is currently set up for advance repayments to have a yearly limit. If the advance isn't paid off within the year will the total amount roll over and start again the next year? Will changing the payroll item to a one time limit make it so that the unpaid balance will carry over to the following year until it's paid off?

Solved
Best answer January 26, 2024

Best Answers
BigRedConsulting
Community Champion

Payroll Advance Repayment Limit

RE: If the advance isn't paid off within the year will the total amount roll over and start again the next year?

 

Yes!

 

RE: Will changing the payroll item to a one time limit make it so that the unpaid balance will carry over to the following year until it's paid off?

 

Yes!

View solution in original post

1 Comment 1
BigRedConsulting
Community Champion

Payroll Advance Repayment Limit

RE: If the advance isn't paid off within the year will the total amount roll over and start again the next year?

 

Yes!

 

RE: Will changing the payroll item to a one time limit make it so that the unpaid balance will carry over to the following year until it's paid off?

 

Yes!

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