Learn how a zero net paycheck in QuickBooks Desktop, Intuit Online and QuickBooks Online payroll.
There are three reasons you might want to create a paycheck that has a net pay amount of zero.
- Put an entire paycheck into a retirement plan.
- Designate an entire paycheck for income tax.
- Record a gift made to an employee. Such as cash or a gift card.
We'll show you how to create the net zero paycheck for Intuit payroll products.
Put an entire paycheck toward retirement
If an employee wants to withhold an entire paycheck and put it toward retirement follow these steps.
Put an entire paycheck toward income tax
If an employee wants to withhold an entire pay check and put it toward income tax.
Record a gift made to an employee
Since the employee already received the gift, you don't want to increase the net pay of the check. You'll be using what's called an "in and out" method. The "in" will be adding the gift as regular wages so it can be properly taxed. And the "out" will be pulling the gift back out of the check since it was already paid.