In QuickBooks on-line the current salary employee set-up is:
Set-up How much do we pay “John Smith” ?
You pay John:
Drop down boxes:
Salary | | $42,024.27 | | per year |
(26) payments scheduled to end of year (based on hours set-up in system 8.00 hours per day x 5 days )
Based on Last Pay Check YTD salary earnings : $ 32,326.40 and 6 payroll periods remain to end of year. The 6 remaining periods with the current set-up :
Pay check Salary $ 1,616.32 x 6 = 9,697.92
$ 42,024.32 finished YTD
_____________________________________________________________________________________
Now we need to make a Salary Adjustment, which amounts to: $ 4,040.82
Last pay check YTD salary earnings | 32,326.40 |
New set-up 6 payments @ $ 673.47 | 4.040.82 |
To finish YTD payroll period | |
| |
Change in salary to finish end of year | 36,367.22 |
Currently in QuickBooks Employee set-up is
Drop down boxes:
Salary | | $42,024.27 | | per year |
To set-up the adjustment to the salary: we would need to change earnings, to reflect the next 6 pay periods:
Salary | | $ 36,367.22 | | per year |
Based on these calculations, the system would be set to reflect the adjusted amount in salary? or is there a step that I am missing?