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Join nowHow do I record a furniture and equipment asset that is being gifted to an employee in QB? Our business is permanently closing due the pandemic and we are going to gift some of the equipment to an employee who needs this equipment to prepare final paperwork for the accountant in addition to any other work they must do since he is not being paid.
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Hi there, @Larry 1.
Thank you for reaching out to us here on the Community forum. I can definitely help you with recording a gift to your employee.
To get started, you need to figure out the furniture and equipment's (asset) value. Then, create a bonus payroll item and add the value of the asset when recording a gift.
Here's how to set up a bonus payroll item:
Once done, you're now ready to create the bonus paycheck. For the detailed instructions, you can open this article: Pay Employees With A Gift Certificate Or Cash Bonus In QuickBooks Desktop Payroll.
I'm also adding this link for additional resources about year-end checklist when preparing tax forms in QuickBooks Desktop Payroll.
If there's anything else you need help with aside from recording a gift, please let me know by adding a comment below. I'm more than happy to help. Wishing you a good one!
Hi there, @Larry 1.
Thank you for reaching out to us here on the Community forum. I can definitely help you with recording a gift to your employee.
To get started, you need to figure out the furniture and equipment's (asset) value. Then, create a bonus payroll item and add the value of the asset when recording a gift.
Here's how to set up a bonus payroll item:
Once done, you're now ready to create the bonus paycheck. For the detailed instructions, you can open this article: Pay Employees With A Gift Certificate Or Cash Bonus In QuickBooks Desktop Payroll.
I'm also adding this link for additional resources about year-end checklist when preparing tax forms in QuickBooks Desktop Payroll.
If there's anything else you need help with aside from recording a gift, please let me know by adding a comment below. I'm more than happy to help. Wishing you a good one!
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