What All Are The Steps For Set Up The Deferred Payroll Item?
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Simply pick QuickBooks Desktop Help from the Help menu
Set up the deferred payroll item by following these steps:
- Set up the deferred payroll item by following these steps:
- Select New Payroll Item from the Employees menu, then Manage Payroll Items.
- Choose Custom Setup and then Next.
- Select Other Tax from the Payroll item type box, then Next.
- Select CARES Co. Soc. Sec. Deferral from the Other tax box, then Next.
- Enter CARES Co. Sec. Sec. Deferral in the text field of the Name used in paychecks and payroll report window, then choose Next.
- Select the agency you pay taxes to from the dropdown in the Agency for company-paid liabilities window, then Payroll Liabilities in the Liability account dropdown, Payroll Expenses in the Expense account dropdown, and Next.
- Select taxable compensation from the Compensation pane.
To know more information on the cares act payroll tax deferral
Click on the given below link: