PaulChoate
Level 1

Separting Owner's Salary

https://community.intuit.com/questions/814782-wages-paid-cogs-or-expenses wages paid COGS or expenses - QuickBooks Learn & Support

 

I have a question about separating the employer liability portion of paychecks (such as owner matched taxes, SS, unemployment, etc.) for checks written to the owner who is considered an employee of the S-corporation?  For example I (the owner) can allocate my weekly salary to operate/run the company to an expense sub-account I call, "Owner's Salary" under the parent expense account called,  "Payroll Expenses Non-COGS" but I am unable to create a 2nd tax-based PAYROLL ITEM for Owner's payroll expenses (such as owner matched taxes, SS, unemployment, etc.) that I can then allocate to another subaccount in my "Payroll Expenses Non-COGS" that I'd call "Owner's Match Non-COGS". These payroll expenses can only be allocated to one Tax-based payroll item which I have linked to a sub-account called "Owner's Match" under MY COGS parent account.  There is no way to separate owner's salary payroll expenses from employee labor payroll expenses because I can't duplicate payroll items that can be allocated to different accounts...QuickBooks doesn't allow me to create more than one Tax based account that will allow me to separate Non-COGS expenses from COGS expenses. Does this make sense?

 

[post edited by moderator for clarity]

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