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SandraS99
Level 1

So I have calculated the temporary wage subsidy and entered as a payment..the payment shows under current tax liability but does not reflect in the PD7A

 
2 Comments 2
AndréB
Level 7

So I have calculated the temporary wage subsidy and entered as a payment..the payment shows under current tax liability but does not reflect in the PD7A

Hey foodexcaninc,

 

With growing uncertainty surrounding many small businesses, the temporary wage subsidy can make it possible to continue paying your employees. QuickBooks Online has got your back, and we're dedicated on making it easy to record the effect of this subsidy. Entering this appropriately is vital in maintaining accurate tax forms and payments. I want to make sure you're able to take full advantage of this valuable benefit. I'll be happy to help sort this out.

 

The best way to record this subsidy is by adding it as prior tax history. This ensures the liability will be reduced in your payroll tax centre without affecting any of your account. It's just a few easy steps: 

  1. Head to Taxes and select Payroll Tax.
  2. Click on Enter prior tax history.
  3. Enter the appropriate Dates, and the amount of the subsidy. 
  4. Click OK.

We recently released an article detailing how to seamlessly set up this subsidy in QuickBooks Online Standard Payroll. This includes full steps and detailed screenshots, so you can be confident everything is recorded accurately. I highly recommend keeping it handy, you can check it out here: Temporary Wage Subsidy for Employers 

 

Let me know how this goes! I'm here any time you need help.

LisaF1967
Level 2

So I have calculated the temporary wage subsidy and entered as a payment..the payment shows under current tax liability but does not reflect in the PD7A

When I then go to record my Payroll Taxes the credit for the subsidy is not automatically taken off.  It shows on a separate line as reads overpayment all on it own...so how do I apply it to the payment so it reduces what I am wanting to remit?

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