Is it possible to set up and track hours/days for vacation separately than the funds available? For example, vacation pay in my province has to be paid on all wages, including commissions and bonuses but that pay doesn't entitle employees to any additional time off. I would like to have each item show separately on the statement of earnings and be tracked entirely within QB.
Great to have you join the Community. I'd be happy to answer any questions you may have.
At this time, QuickBooks doesn't allow to enter/track hours or days seperately from the available funds. I recommend tracking this manually on your end. I know how important this feature is to you and I recommend sending feedback to our engineers by clicking the Help menu and looking for Send Feedback Online. New product ideas and improvements are largely based on the feedback we get from users like you. Let me know if you have further questions, I'll be happy to help.
I'm glad you asked that question, as it is an important one and I've made quite a few posts regarding the differences between Vacation $ and Vacation Hrs entitlement, and I hope Intuit is doing something about this.
Many people have the erroneous idea that if they just divide the available Vacation $ by an employee's hourly rate, they will get the number of hours that the employee is entitled to take as Vacation, or vice versa, if they just multiply the number of hours an employee is entitled to by their hourly rate, they will come up with a correct $ amount entitlement.
The only time you can do an exact division of $ and Hrs and come up with the right answer is if the employee has 1) never had a pay increase, 2) never worked overtime 3) never taken a lump sum payout of Vacation $ at any time and 4) reached a particular year milestone where vacation pay rate changes, i.e. in SK, ten years of service nets you 4 weeks or 4/52 per year instead of 3/52.
It is also curious as to why Quickbooks Desktop versions only track Vacation $ entitlement based on the percentage applicable, and Quickbooks Online only tracks Vacation Hrs, when both are extremely important in Canadian Payroll. I, for one, would like to see both platforms be adjusted to marry the two together. Having to track either of these things outside of QB is a royal pain. Hey Intuit, you already know my feelings on this subject. Is any headway being made, especially as relates to the lack of financial entries in QBO for Vacation liability?