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Properly recording cash advance payments in specific scenario

Hello,

The business owner likes to pay most of the earnings of each employee in cash daily and wants to pay the difference and tax on those payments through weekly payroll in QBO. What is the best way to record this behavior properly?

Thanks

Solved
Best answer 01-08-2020

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QuickBooks Team

Properly recording cash advance payments in specific scenario

Good Afternoon, @KylerG

 

Congrats on making your first post. I'm happy to help you with properly recording those payments inside your QuickBooks Online Payroll account. 

 

When paying each employee cash daily, the best solution to record those payments is not to record them until time to do payroll. This way, you can have everything recorded quickly and properly in QBO. You'll need to keep track of what you paid in cash so that you can see the difference in what you have paid and what more you owe based on payroll.

 

If you have any further questions about this topic, I'd recommend reaching out to your account to get the best results on your account.

 

Thank you for reaching back out to the Community. Have a excellent rest of your day!

 

 

 

 

View solution in original post

1 Comment
Highlighted
QuickBooks Team

Properly recording cash advance payments in specific scenario

Good Afternoon, @KylerG

 

Congrats on making your first post. I'm happy to help you with properly recording those payments inside your QuickBooks Online Payroll account. 

 

When paying each employee cash daily, the best solution to record those payments is not to record them until time to do payroll. This way, you can have everything recorded quickly and properly in QBO. You'll need to keep track of what you paid in cash so that you can see the difference in what you have paid and what more you owe based on payroll.

 

If you have any further questions about this topic, I'd recommend reaching out to your account to get the best results on your account.

 

Thank you for reaching back out to the Community. Have a excellent rest of your day!

 

 

 

 

View solution in original post

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